BlackWood Ventures, a venture capital firm based in Copenhagen, has announced the final close of its debut fund at $25 million. Focused on backing high-potential fintech, cleantech, and Web3 founders across Europe, the fund is supported by a wide range of investors including private Nordic investors, exited entrepreneurs, and family offices. Fund I remains open to select new investors.
Founded in 2021 by Bastian R. Larsen and Thomas Derambure, BlackWood Ventures has rapidly built momentum as a network- and technology-driven fund. Since its first close in April 2023, the firm has already made 19 investments across nine countries, aiming to build a portfolio of around 30 high-conviction startups.
“Europe is not short on talent; it’s short on conviction capital. That’s the gap we’re here to fill,” said Bastian Larsen, founder and CEO of BlackWood Ventures. “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.”
BlackWood’s portfolio features fast-growing startups across Europe, including beSirius from the Netherlands, a B2B SaaS platform for the mining and metals industry backed by Berlin-based NAP and used by industry leaders like ArcelorMittal; IVM Markets in the UK, a fintech SaaS company revolutionizing structured products distribution founded by former Deutsche Bank executives; Sidekick, a UK-based wealth management platform recently surpassing £100 million in assets under management, serving mass-affluent customers; Yonder, a UK rewards credit card startup valued at over £100 million and named to Tech Nation’s 2025 Future Fifty scaleup cohort; and Particula from Germany, which provides AI-driven risk intelligence for digital assets, enabling institutional adoption through real-time risk insights bridging DeFi and TradFi.
Matthew Ford, founder and CEO of Sidekick: “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!”
The firm maintains a 0.2% acceptance rate, combining a rigorous screening approach with a vast pan-European sourcing network. BlackWood leverages a proprietary AI-based deal screening system and works closely with over 1000 angel investors and 70+ accelerators and incubators across Europe.
Its co-investment track record with top-tier firms — including LocalGlobe, Y Combinator, Seedcamp, Northzone, Octopus Ventures, Firstminute Capital, and others — reflects the strength of its sourcing and selection model.
“BlackWood has built a strong European footprint, moves quickly, and is backing companies many Nordic VCs overlook due to geographic constraints,” said Steffen Saltofte, a BlackWood board member and CEO of Zentiva. This ambition and focused execution is exactly what we aimed for with Fund I, and I’m excited to see it continue.”
With strong momentum and an expanding investor base, the firm continues to solidify its position on the European VC stage.
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Read the orginal article: https://arcticstartup.com/blackwood-ventures-announces-second-close-of-fund-i/
