Swedish venture capital firm BackingMinds has raised €50 million in the first close of its third fund, BackingMinds Invest III, with the European Investment Fund (EIF) contributing €20 million as the anchor investor. The fund plans to invest in around 20 early-stage companies, focusing primarily on the Nordics, with at least 90% of its capital earmarked for the region. The remaining 10% may be invested elsewhere in Europe. The fund will target initial investments of €1 million to €3 million per company, with additional capital reserved for follow-on rounds. Its final close is expected in the first quarter of 2027. BackingMinds is an early-stage venture capital firm founded in 2016 by Sara Wimmercranz and Susanne Najafi. The firm...
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