Reportedly, Vienna stands out as a hub for female entrepreneurship in Europe. In fact, 35% of Viennese startups were founded by women (that’s 25 % higher than the rest of Europe), and 40% of Austrian businesses are led by women.
Focused on female-founded startups, Vienna-based venture capital firm Fund F has closed its first fund at €28 million, surpassing its initial target of €20 million.
The fund, which focuses on early-stage startups with at least one female co-founder, received a €10 million investment from the European Investment Fund (EIF). Other supporters include Austria Wirtschaftsservice GmbH (AWS), Raiffeisen Landesbank Steiermark, and super angel Hansi Hansmann of the Hanswomen Group. The fund’s LP base also includes entrepreneurs, angel investors, family offices, and institutional investors, with one-third being women.
The firm plans to invest approximately €300K per startup in 25 companies across Europe while reserving 60% of the fund for follow-on investments. Notably, Fund F aims to lead funding rounds for 30% of its portfolio companies.
Backs gender-diverse founding teams
Founded in 2022 by Lisa-Marie Fassl and Nina Wöss, the mission of Female Founders is to create equal opportunities for women in the tech and startup ecosystem by providing them with the tools, resources, and networks necessary for success.
Fund F follows a sector-agnostic investment strategy but prioritises climate tech, femtech & healthtech, fintech & insurtech, and HR tech. It requires portfolio companies to have scalable digital business models that can generate revenue while also promoting workplace equality.
By collaborating with Female Founders, a leading European platform for women in tech and innovation, the VC firm has gained access to a network of over 60,000 individuals. This strategic partnership reinforces its mission to foster diversity and inclusion in Europe’s tech ecosystem.
Portfolio of investments
Since its first closing, Fund F has already invested in 14 companies. Some notable ones include:
- senevo: A digital health startup improving access to at-home diagnostics.
- KOA Biotech: Specialises in biotechnological solutions for women’s health.
- AI-BOB: An AI-driven platform optimising workplace productivity.
- Sirius: A fintech company simplifying financial management for freelancers.
- Cordon Technologies: Develops smart wearables for personal safety and health monitoring.
Our thoughts
With its oversubscribed €28 million fund, Fund F is making significant strides in supporting early-stage, female-led startups. Backed by a strong network of investors, the fund is poised to drive meaningful change in the European tech landscape. Through its investments and collaboration with Female Founders, Fund F is not just funding startups but fostering a more equitable future for entrepreneurship.
“Because investing in diverse founders doesn’t just drive innovation – it reshapes entire industries. The earlier we invest, the more we can fuel a cycle where female founders build, scale, exit, and reinvest in the ecosystem. Thank you to everyone who has supported us on this journey — our LPs, founders, and community. This is just the beginning,” said Lucy Izquierdo Greene, VC Analyst at Fund F.
