Vienna-based VC Fund F has closed an oversubscribed €28 million fund, exceeding its initial target of €20 million, to support female founders in the early stages. The European Investment Fund is among the firm's new LPs.
- Founded in 2022 by Lisa-Marie Fassl and Nina Wöss, Fund F is a venture capital firm that invests in pre-seed startups with gender-diverse founding teams across climate tech, femtech, healthtech, fintech, and HRtech. The firm aims to lead funding rounds for 30% of its portfolio companies as part of its strategy.
- The new fund aims to invest €300,000 in 25 pre-seed and seed-stage startups across Europe, requiring at least one female co-founder with equal representation on the cap table. Additionally, 60% of the fund is reserved for follow-on investments.
- In October 2022, Fund F completed its first close at €12.5 million and has since made 14 investments. One of them is KOA Biotechnology, a Barcelona-based biotech startup that has raised €2 million to enhance disease management in aquaculture.
- Fund F is backed by diverse investors, including the European Investment Fund (EIF), which invested €10 million at the fund’s final closing.
- Other supporters include Austria Wirtschaftsservice GmbH (AWS), Raiffeisen Landesbank Steiermark, and super angel Hansi Hansmann of the Hanswomen Group. The fund’s LP base also includes entrepreneurs, angel investors, family offices, and institutional investors, with one-third being women.
"Because investing in diverse founders doesn’t just drive innovation - it reshapes entire industries. The earlier we invest, the more we can fuel a cycle where female founders build, scale, exit, and reinvest in the ecosystem. Thank you to everyone who has supported us on this journey — our LPs, founders, and community. This is just the beginning," claims Lucy Izquierdo Greene, VC Analyst at Fund F.
