BackingMinds
BackingMinds is a Stockholm-based venture capital firm founded in 2016 that invests €0.5M–€3M in pre-seed and seed-stage tech companies across the Nordics and EU/EEA, targeting overlooked founders, regions, and sectors underserved by traditional venture capital.
- Company typePrivate
- Founded2016
- HeadquartersStockholm, Sweden
- Headcount1–10
- GTM typeB2B
- OfferingServices
What BackingMinds does
BackingMinds is a Stockholm-based venture capital firm founded in 2016 by Susanne Najafi and Sara Wimmercranz that invests €0.5M–€3M in pre-seed and seed-stage tech companies across the Nordics and the broader EU/EEA. The firm positions itself as a "supporting act" to entrepreneurs, with a stated mandate to back high-performing founders operating outside the networks of traditional venture capital—specifically those based outside capital cities, founders with migrant backgrounds, and female-led teams. The firm typically leads or co-leads rounds and is industry-agnostic across HealthTech, ClimateTech, FinTech, SaaS, and industrial technology.
The portfolio comprises 20+ companies, with notable holdings including Boneprox (AI-driven dental diagnostics), Cetasol (maritime decision support), CemVision (low-carbon cement), NitroVolt (green ammonia), Hybird (energy management), Uniqkey (cybersecurity for SMEs), TrusTrace (supply chain traceability), Helios Innovations (industrial wastewater and PFAS treatment), and Snerpa Power (intelligent energy services). BackingMinds' differentiated sourcing approach is supported by quantified outcomes: 70% of portfolio companies founded outside capital cities, 35% with at least one migrant-background founder, and 60% of founding teams including at least one female founder.
The firm is headquartered at Strandvägen 7A in Stockholm and is backed by a €50 million second fund raised in November 2022 from Swedish investors, including high-net-worth families and entrepreneurs. BackingMinds AB is staffed by a 6–8 person team comprising Founding Partners, an Investment Partner, CFO, Executive Assistant, Advisor, and VC Investor. As a venture capital firm, BackingMinds does not develop proprietary technology; its competitive edge derives from its investment methodology and differentiated deal sourcing into overlooked founder and sector segments. Revenue is generated through management fees on the fund and, opportunistically, through exits and carried interest realizations from portfolio companies.
BackingMinds firmographics
Firmographics- Name
- BackingMinds
- Legal name
- BackingMinds AB
- Website
- https://backingminds.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- BackingMinds is a Stockholm-based venture capital firm founded in 2016 that invests €0.5M–€3M in pre-seed and seed-stage tech companies across the Nordics and EU/EEA, targeting overlooked founders, regions, and sectors underserved by traditional venture capital.
- Ownership category
- akta.pro rank
BackingMinds industry classification
Industry- Product category
- Venture Capital Investment
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)
Keywords
Where BackingMinds is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
BackingMinds business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Venture Capital Fund Management: BackingMinds generates returns through equity investments in early-stage tech startups. The firm invests €0.5M–€3M per company in post-revenue companies, typically leading or co-leading funding rounds. Returns are realized through exits, IPOs, or secondary sales of portfolio companies.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
BackingMinds product offering
Product offeringCore offering
BackingMinds is a Nordic venture capital firm that invests €0.5M–€3M per company in early to mid-stage tech companies across the EU/EEA, typically leading or co-leading funding rounds. The firm focuses on post-revenue companies led by high-performing founders outside the networks of traditional venture capital, including those based outside capital cities, with migrant backgrounds, or with female co-founders. It currently has a portfolio of more than 20 companies across sectors such as ClimateTech, HealthTech, FinTech, SaaS, cybersecurity, and industrial technology.
Product overview
BackingMinds is a Stockholm-based venture capital firm founded in 2016 that operates as a single unified investment platform rather than a multi-product company. The firm's core offering is venture capital investment services targeting early to mid-stage tech companies in the EU/EEA, with a focus on founders outside traditional VC networks. Their portfolio spans multiple sectors including HealthTech, ClimateTech, FinTech, SaaS, and industrial technology, featuring companies such as Boneprox (AI-driven dental diagnostics), Cetasol (AI-driven maritime optimization), Hybird (AI-driven energy management), Uniqkey (cybersecurity), TrusTrace (supply chain traceability), NitroVolt (green ammonia), Helios Innovations (water treatment), and others.
Differentiator
Problem solved
Functional benefit
Products and services
- Venture Capital Investment Services Equity venture capital investment of €0.5M–€3M per company in early to mid-stage tech companies across the EU/EEA, typically leading or co-leading funding rounds. Targeted at post-revenue companies led by founders outside traditional VC networks, including those based outside capital cities, with migrant backgrounds, or with female co-founders. Returns are realized through exits, IPOs, or secondary sales of portfolio companies.
Quantifiable outcome
- 70% of portfolio companies are founded outside capital cities
- +2 more outcomes
Companies that use BackingMinds
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
BackingMinds technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
BackingMinds partnerships and signals
Strategic signalScale indicators3 records
Recent moves7 records
Expansion highlights6 records
BackingMinds competitors and assessment
Company assessmentBroad incumbents
- EQT Ventures: EQT Ventures is a large pan-European early-to-growth-stage VC operating as part of EQT Group, with offices in Stockholm and across Europe. Comparable to BackingMinds in Nordic roots and early-stage tech focus, but at materially larger fund size and broader mandate.
- Atomico: Atomico is a London-based late-stage European venture firm founded by Skype's Niklas Zennström, investing across Europe with focus on tech and climate. Comparable to BackingMinds in European tech thesis but at much larger fund size and later stage focus.
- Index Ventures: Index Ventures is a leading global venture firm investing across all stages of European and US tech. Comparable to BackingMinds in tech-sector breadth but operates at much larger fund sizes, broader geographic scope, and full lifecycle investing.
Direct peers
- Wellstreet: Wellstreet is a Stockholm-based early-stage VC and accelerator investing in Nordic tech startups at seed stage. Directly comparable to BackingMinds in geography, stage, and ticket size, and has co-invested alongside BackingMinds in Loovi.
- Creandum: Creandum is a leading Nordic early-stage VC backing seed and Series A tech companies across the Nordics, Baltics, and DACH. Directly comparable to BackingMinds in stage, geography, and sector breadth, with larger funds and a more established portfolio of breakout names.
- Shift4Good: Shift4Good is a European early-stage VC focused on sustainable mobility and logistics. Comparable to BackingMinds in stage, European scope, and climate/sustainability orientation; Shift4Good co-led the Cetasol seed round with BackingMinds.
- Transition VC: Transition VC is a London-based early-stage climate tech VC investing across Europe. Directly comparable to BackingMinds in stage, geography, and climate-tech focus; Transition co-led the Hybird round alongside BackingMinds.
- ByFounders: ByFounders is a Copenhagen-based early-stage Nordic VC investing in pre-seed and seed tech founders across the Nordics and Europe. Comparable to BackingMinds in stage focus, geographic scope, and check size, with strong founder-network-led sourcing.
- Norrsken Foundation: Norrsken Foundation runs impact-focused investment vehicles backing early-stage Nordic and European tech companies solving major societal challenges. Comparable to BackingMinds in stage, geography, and impact orientation; BackingMinds' Investment Partner Lisen Oliw previously served as Nordics Director at Norrsken.
- Northzone: Northzone is a leading Nordic early-stage VC investing in seed to Series B tech companies across the Nordics and Europe. Directly comparable to BackingMinds in geography, stage focus, and check size, with a longer track record and significantly larger fund vehicles.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
BackingMinds social profiles
Digital presenceBackingMinds financial estimates
Financial estimateRevenue estimate
Valuation estimate
BackingMinds leadership team
Management profileNumber of profiles
Profiles8 records
BackingMinds funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BackingMinds M&A and investment
M&A and investmentM&A
Investments32 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BackingMinds
What does BackingMinds do?
BackingMinds is a Nordic venture capital firm that invests €0.5M–€3M per company in early to mid-stage tech companies across the EU/EEA, typically leading or co-leading funding rounds. The firm focuses on post-revenue companies led by high-performing founders outside the networks of traditional venture capital, including those based outside capital cities, with migrant backgrounds, or with female co-founders. It currently has a portfolio of more than 20 companies across sectors such as ClimateTech, HealthTech, FinTech, SaaS, cybersecurity, and industrial technology.
Is BackingMinds a public or private company?
BackingMinds is a private company. It is classified as venture growth investor backed and is currently operating.
When was BackingMinds founded?
BackingMinds was founded in 2016. It employs 1 to 10 people.
Where is BackingMinds based?
BackingMinds is headquartered in Stockholm, Sweden, in the Europe region.
How does BackingMinds make money?
One revenue line is on record: venture Capital Fund Management.
Who are BackingMinds's main competitors?
Broad incumbents on record are EQT Ventures, Atomico and Index Ventures. Direct peers are Wellstreet, Creandum, Shift4Good, Transition VC, ByFounders, Norrsken Foundation and Northzone.
Does BackingMinds have an API?
No public API is recorded for BackingMinds.
What industry is BackingMinds in?
BackingMinds's product category is Venture Capital Investment. Its primary akta.pro industry code is FSANAAAA, Early-Stage Venture Capital (Pre-Seed/Seed). Its NAICS code is 525 and its SIC code is 6282.