Impact VC firm Unconventional Ventures hits second close of its €30M fund; here’s the fund’s investment strategy

Copenhagen-based Unconventional Ventures (UV), impact-focused venture capital, on Tuesday, announced the second close of its €30M fund. 

Limited Partners (LPs) that have invested in the fund include: 

• European venture capital firm, 
• Atomico, Export and Investment Fund of Denmark (EIFO),
• Investinor, an evergreen investment company (funded by the Norwegian government and a Danish investment firm) 
• Chr. Augustinus Fabrikker. 

The second close welcomes new limited partners, including The Case for Her, a Stockholm-based firm specialising in investments in women’s health issues. 

Since its first close, the VC has invested in nine impact technology companies. 

The latest fund close will allow Unconventional Ventures to continue its pre-seed and seed investments in the sector across Europe, specifically focusing on climate, health, education, and inclusive fintech. 

Thea Messel, Founder and General Partner at UV, says, “Since the initial close, we’ve proudly invested in nine impactful companies solving some of the biggest challenges for people and the planet. From the beginning, our unwavering belief has been that the fusion of diversity and sustainability represents the most significant investment opportunity. With this fund, we now have the financial power to support further the remarkable founders we’ve encountered. They are the visionaries behind companies dedicated to forging a brighter future for all of us.”

Unconventional Ventures: Investing in underrepresented founders

Founded in Denmark in 2018, Unconventional Ventures is run by General Partners Thea Messel and Nora Bavey. 

UV is a pioneering investment fund in Europe that supports impact-technology founders identifying as women, people of colour, immigrants, and LGTBQ+. 

Since 2019, it has been creating investment vehicles to help these entrepreneurs access funding. 

In early 2021, the firm launched a new digital European accelerator program to support diverse founders.

The impact VC’s portfolio companies represent various sectors of the impact technology space, including London-based climate risk data provider Climate X, Sweden-born edtech company SciFree, and the Norwegian ocean-tech startup Ocean Oasis. 

Nora Bavey, co-founder and General Partner at UV says, “Celebrating our second close, we’re on cloud nine with nine investments in a year – a testament to our unwavering commitment to identifying and fueling innovation. With each investment, we’re not just shaping the future; we’re actively building it. We’re thrilled to showcase our impressive roster of investors, ranging from respected institutional players to globally renowned VC firms and esteemed family offices. Their trust in us empowers our mission to champion the trailblazers of the impact technology sector.”