Austrian VC Fund F closes first fund at €28M to back women-led European startups 

Vienna-based Fund F, a venture capital fund, announced that it has closed its first fund oversubscribed at €28M, surpassing the original target of €20M. 

Out of the total, the European Investment Fund (EIF) invested €10M, alongside institutional investors, founders, and business angels, a third of which are women.

The VC firm will provide about €300,000 each to 25 early-stage startups in Europe that have at least one female co-founder, who must have equal ownership on the cap table.

They also plan to keep 60 per cent of the fund for future investments. Additionally, Fund F aims to lead 30% of its portfolio companies.

Since its first closing, the Austrian VC has made 14 investments, including in senevo, KOA Biotechnology, AI-BOB, Sirius, Cordon Technologies, and more.

“We often talk about the importance of gender diversity when it comes to founders and VC investment decisions, but diversity among LPs is just as critical. It shapes how capital is allocated, what opportunities are prioritised, and who gets to build the companies of the future,” says Fund F’s cofounder Nina Wöss to Sifted.

Fund F: Investing in gender-diverse founding teams

Fund F is sector-agnostic but is particularly focused on several key sectors, including ClimateTech, FemTech & HealthTech, FinTech & InsurTech, and HR Tech.

The companies it invests in need to have digital business models that can grow and make money while also promoting equality in their workplaces.

Through its collaboration with Female Founders, the organisation has established itself as Europe’s leading platform for women in tech and innovation, reaching over 60,000 individuals.

The organisation aims to promote diversity and inclusion in the European tech ecosystem. It is based in Vienna, known as a hub for female entrepreneurship.

The VC is supported by InnovFin Equity, receiving financial backing from the European Union under the Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI), which was established under the Investment Plan for Europe.