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Reuters

BlackWood Ventures Announces Final Close of Debut Fund at More Than $25 Million to Back Europe's Next Generation of Founders

COPENHAGEN, Denmark, July 28, 2025 (EZ Newswire) -- BlackWood Ventures, opens new tab, a network- and technology-driven early-stage fund focused on European founders, announces today the final close of its debut $25 million (USD) fund. Since its first close in April 2023, BlackWood has made 19 investments spanning nine countries, with a plan to build a portfolio of around 30 fintech, cleantech, and Web3 companies. 'Europe is not short on talent; it's short on conviction capital. That's the gap we're here to fill,' said Bastian Larsen, founder and CEO of BlackWood Ventures. 'We built BlackWood to be truly European in scope and disciplined in approach, seeing hundreds of opportunities each month and backing founders whose ambition and focus stand out.' Investments include: Matthew Ford, founder and CEO of Sidekick: "BlackWood backed us early last year and has been fantastic to work with. They invest with conviction and it's refreshing how fast and efficient they were throughout. Their fintech-experienced team has been hands-on at every turn and supported us throughout. Whether that's in fundraising processes, helping with sales, or general support and guidance. It's been a great partnership!" BlackWood's sourcing model combines a network of over 1,000 angel investors with systematic screening of hundreds of opportunities each month, increasingly supported by tech-enabled sourcing platforms. Frequent co-investments with leading firms such as LocalGlobe, Y Combinator, Seedcamp, Northzone, Octopus Ventures, Firstminute Capital, RTP Global, Giant Ventures, Norrsken and others demonstrate the fund's ability to identify and back high-quality opportunities. 'I continue to be impressed by the clarity of the strategy and intensity of execution this team has demonstrated,' said Steffen Saltofte, a limited partner and board member at BlackWood, and CEO of Zentiva, a multinational pharmaceutical company with more than 5,000 employees. 'BlackWood has built a strong European footprint, moves quickly, and is backing companies many Nordic VCs overlook due to geographic constraints. This ambition and focused execution is exactly what we aimed for with Fund I, and I'm excited to see it continue.' About BlackWood Ventures BlackWood Ventures is a network- and technology-driven early-stage venture capital firm headquartered in Copenhagen with team members across Europe. The firm backs visionary fintech, cleantech, and Web3 founders from pre-seed to seed with a disciplined, pan-European approach. For more information, visit opens new tab. Media Contact Rasmus Holtrh@ ### SOURCE: BlackWood Ventures Copyright 2025 EZ Newswire See release on EZ Newswire