BlackWood Ventures, a network- and technology-driven early-stage venture capital firm, has announced the final close of its debut fund at € 22 million. This fund is dedicated to backing Europe’s next generation of founders, with a focus on fintech, cleantech, and web 3.0 companies.
Since its first close in April 2023, BlackWood Ventures has made 19 investments across nine countries, with plans to expand its portfolio to around 30 early-stage companies. The firm’s strategy combines a robust network of over 1,000 angel investors with a systematic, data-driven approach to sourcing high-potential startups.
“Europe is not short on talent; it’s short on conviction capital. That’s the gap we’re here to fill. 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.”
said Bastian Larsen, Founder and CEO of BlackWood Ventures.
What sets BlackWood apart is its unique origin story and approach. Bastian R. Larsen, the founder, moved from France to Denmark at the age of 18 with no network but a strong drive. His career began at BlackRock, where he held roles in London, Geneva, and New York, co-leading product strategy and helping raise $7 billion for what became the world’s fastest-growing hedge fund. After completing his MBA at Oxford, he returned to Denmark to start BlackWood from scratch at the age of 28. Since then, BlackWood has built a venture firm characterized by speed, discipline, and alignment with founders. The team is intentionally one of the youngest in Europe, supported by a more seasoned board and investment committee. They are united by the belief that early-stage venture capital needed to be reimagined from first principles.
BlackWood Ventures has frequently co-invested with top-tier venture capital firms such as LocalGlobe, Y Combinator, and Northzone, underscoring the quality and selectivity of its investment choices. Over 30% of the portfolio has already seen valuation uplifts, signaling strong early traction and validation from later-stage investors.
Among the notable investments are beSirius, a Dutch B2B SaaS platform for the mining and metals industry, and IVM Markets from London, a fintech SaaS company transforming structured products distribution for financial institutions. Other investments include Sidekick, a UK-based wealth management platform, and Yonder, a UK-based rewards card company valued at over £100 million.
Matthew Ford, Founder and CEO of Sidekick, shared his experience working with BlackWood:
“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 innovative sourcing model and strategic co-investments with leading venture capital firms highlight its commitment to identifying and supporting high-quality opportunities across Europe.
With its headquarters in Copenhagen and team members across Europe, BlackWood Ventures continues its mission of being a VC in the Nordics focused on all of the European startup ecosystem.
For more information, visit BlackWood Ventures’ website at www.blackwood.vc.
