Investment company Backbone Ventures announces the final closing of its 5502 Fund at the original target size of EUR 20 million. The 5502 Fund, named after the postcode of the Chilean home village of one of the partners, is the first venture capital fund in continental Europe to invest specifically in migrant and other underrepresented founders.
Since the first closing at the end of 2022, the Backbone Ventures 5502 Fund has built a strong portfolio of 8 start-ups. Among them is the digital health startup Aepsy from Switzerland. In all investments, the majority of shares are held by women or founders with a migration background.