identity.vc has announced the first closing of their LGBTQ+ venture fund, which is dedicated to backing and investing in LGBTQ+ entrepreneurs.

Founded by Til Klein and Jochen Beutgen – and with a target fund size of €50 million – identity.vc will invest in early-stage startups led by LGBTQ+ founders or LGBTQ+ representation at the C-level.

The primary focus will be on Europe, targeting pre-seed to Series A companies. However, the fund will also consider opportunities beyond that too.

Investing in LGBTQ+-led startups and businesses is well-established in the US, but this is the first venture fund of its kind in Europe.

Founding partner Jochen Beutgen is confident that the European market has just as much to offer, saying: “I have seen how big and successful LGBTQ+ investing is in the US. I am convinced that the potential in Europe is at least as huge.”

The ethos of identity.vc is believing and investing in innovation through diversity. LGBTQ+ leaders across fashion, entertainment and design have shaped culture and commerce for decades, and there is plenty of untapped opportunity in broader business.

An estimated 15% of startups have an LGBTQ+ co-founder, proving that the market potential is substantial.

“Diversity is an attractive investment case,” says founding partner Til Klein. “Numerous studies show that diverse teams perform better.”

Til Klein (based in Zurich) is a former BCG partner, UBS banker and FinTech founder, while Jochen Beutgen (based in Berlin) has a 20-year track record as a family office investor.

This experienced leadership team also includes Mari Luukkainen (based in Helsinki), who is a an ex-growth operator and investor at Icebreaker.vc.

Luukkainen takes on a principal role at identity.vc.

For more information and to pitch, visit identity.vc.