London-based early-stage European VC fund Backed is bolstering its position by adding €75M to its Seed fund, while adding another €75M via a new follow-on fund vehicle. The ‘Backed Core 2’ fund will continue to invest in seed-stage startups, while the new ‘Backed Encore 1’ will do follow-on investments in later-stage rounds of existing portfolio companies.
Partner Alex Brunicki said in a statement: “We’ve pushed ourselves to be an entrepreneurial fund… I’d say we’ve made it to our ‘Series A’. We’re developing deeper edge in frontier markets like Biotech and Crypto; we’re bringing nascent communities together – such as Coin-Op – in a meaningful way; a …
