On Thursday, Lisbon-based AgileGTM Blockchain Fund, a pan-European VC investing in pre-seed B2B blockchain startups, announced its first $2M (approximately €1.9M) close of a new $10M (approximately €9.6M) fund.
The fund is anchored by WOOD & Company a leading investment bank in Central and Eastern Europe.
A go-to-market boot camp is underway, from which portfolio businesses will graduate by the end of February.
Fund utilisation
The capital will be used to exclusively support B2B blockchain solutions addressing significant gaps across multiple industries.
According to the VC, the fund will initially invest between three and six companies from over 500 candidates who were sourced for possible support from the fund.
Filippo Chisari, General Partner at AgileGTM explains, “The founders that we’re backing come from a variety of backgrounds but they all have some impact focus or are targeting developing markets with validated B2B revenue. We invest in commercially savvy entrepreneurs rather than wishful thinkers, and look for people who can build blockchain businesses not just products.”
The selected startups operate in the B2B blockchain space and have raised angel capital, to complete seed rounds following the Lisbon-based VC’s participation.
The team aims to deliver 40-50 pre-seed investments with a similar level of selectivity.
AgileGTM: Backing B2B Blockchain startups
AgileGTM is a venture capital firm specialising in early-stage investments in B2B blockchain startups with the potential for long-term, transformative impact on the global business landscape.
The VC’s team comprises experienced entrepreneurs with deep expertise in B2B Go-To-Market strategies.
The company has been actively investing in the blockchain space since 2016.
Additionally, the Portuguese VC also offers value to it’s portfolio companies by providing a dedicated Go-To-Market boot camp designed to accelerate their path to Product-Market Fit.
Typically, the VC invests around $150,000 in exchange for up to 6 per cent equity.
“When we set out to build this firm our long-term vision was crystal clear: to redefine the standard of blockchain venture capital in Europe. We wanted to leave our mark with the transformative power of blockchain technology while adding an extra 1% at every step of the investment value chain. This would compound into an ecosystem of killer entrepreneurs backed by the best co-investors with aligned interests. That’s what AgileGTM is about,” concludes Chisari
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