How many VC funds can you name where the three partners all had babies whilst raising the fund, have deep connections in Asia as well as Europe and the US, and include actress Anne Hathaway as an LP? Not many I’d hazard.
But that’s the profile of Pact, a new Seed VC fund launched with a £30 million ($36 million) pot of cash to back early-stage startups across Europe. Pact will aim at ‘mission driven’ startups in what it calls the “ABC” categories: Access (economic inclusion), Betterment (personal and professional well-being), and Climate. (That’s a much more interesting way of addressing ‘doing good’ areas, instead of that trotting out the UN SDGs, IMHO). Pact’s investment tickets will range from around £1m to 1.5m.