Female-led venture capital investor Pact has revealed its first £30m seed fund today as it looks to pump cash into early-stage startups across Europe.
The London-based investor, led by Abu Dhabi investment fund alumni Reem Mobassaleh Wyndham; former investment banker Tong Gu and early-stage investor Monik Pham, said it would be honing in on small firms across Europe tackling issues like financial exclusion, poor personal and professional well-being, and climate destruction.
In a statement today, Gu said the fund’s investment thesis stemmed from the founders’ “passion for improving the future”.
“These areas are full of commercial opportunities within global markets we’ve invested in across our careers,” Gu said. “We’re launching a dedicated vehicle based on our experiences and understanding of the early-stage founder journey.”
Pact is the first firm to be founded by three female partners but comes at a tricky time on the capital markets as venture capital funding slows amid soaring inflation and a recession.
A recent report by KPMG found that $4.6bn (£4bn) of VC investment was pumped into UK firms across the quarter, down from the $9.2bn (£8bn) invested in the previous three months and the lowest since the third quarter of 2020.