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BackingMinds Closes €50 Million for Third Fund Focused on Nordic Startups

BackingMinds has raised €50 million in the first close of its third investment fund, with €20 million contributed by the European Investment Fund as an anchor investment. The fund plans to primarily target early-stage startups in the Nordic region, aiming for initial investments of €1 million to €3 million.

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Swedish venture capital firm BackingMinds has successfully closed €50 million in the first phase of fundraising for its third investment fund, BackingMinds Invest III. Among the contributors, the European Investment Fund (EIF) is notably providing €20 million as the anchor investor. This new fund aims to invest in approximately 20 early-stage companies, with a strong focus on the Nordic market.

BackingMinds intends to direct at least 90% of its capital into Nordic startups, leaving the remaining 10% for European ventures. The firm’s strategy is to target sectors aligned with climate resilience, AI, and human potential. The final closing of the fund is anticipated in the first quarter of 2027.

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BackingMinds raises €50 million in first close of third fund to invest in Nordic startups

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