New London and Paris-based VC firm wants to solve global problems
A cross-continent venture capital fund, Future Positive Capital, today revealed itself, with a clear stated aim to invest in science and technology solutions that tackle societal challenges.
It was co-founded by Sofia Hmich, previously associate at Index Ventures, alongside Alexandre Terrien and Michael Rosen. Their goal - find and fund innovation in AI, robotics, synthetic biology, genetics, and other 'deep tech' to address global problems.
These could include climate change, food shortages, health crises, and our ageing population.
Its first fund totals $57.1 million, and the firm is hoping to engage up to 25 startups at seed and Series A stage, with investments between €300,000 and €5 million.
The values around which their investments will be structured involves finding investment opportunities outside the standard concentration of venture capital that works on technologies for “upper class demographic groups” - that is, FinTech, mobile and consumer technology. There are, they hope, significant potential returns and a societal benefit from investing in entrepreneurs launching initiatives aimed at global problems.
Two investments have already been agreeed - BioBeats, who use AI to help people take control of their own wellbeing; and Meatable, whose focus is lab-grown meat.
Future Positive Capital has also created a network of 100 so-called Catalysts - a group offering professional support and expertise in tech, science, R&D, entrepreneurship, design, and branding.