Latest fund size
$25M
Announced
July 31, 2025
Global HQ
Denmark
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Check size
$500K - $10M
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Stage focus
Seed; Series A; Series B
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Regions of investment
Europe; North America
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BlackWood Ventures is a Copenhagen-based early-stage venture capital firm launched in 2023 with a network- and technology-driven approach to backing European founders. The firm operates with a distributed team across Europe and seeks to invest in founders building in fintech, cleantech, and Web3. BlackWood combines deep founder networks with systematic sourcing infrastructure to identify high-potential companies from the pre-seed stage.
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Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
BlackWood Ventures targets pre-seed and seed-stage startups led by European founders in three core verticals: fintech, cleantech, and Web3.
Its portfolio spans across nine countries, and the firm takes a pan-European approach to sourcing, supporting startups from ideation to early traction. BlackWood invests in companies tackling complex problems with scalable technology and has a particular interest in enabling institutional adoption of emerging technologies.
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What the fund looks for in founders and which sectors it backs.
In July 2025, BlackWood Ventures announced the final close of its debut fund at over $25 million. The fund had its first close in April 2023 and has since made 19 investments across nine European countries.
The firm plans to build a portfolio of approximately 30 startups. The fund is designed to support European founders from pre-seed to seed, offering not only capital but also operational support and access to a strategic angel network.
BlackWood’s sourcing strategy includes both a network of more than 1,000 angel investors and a proprietary tech-enabled deal flow engine that screens hundreds of startups monthly.
This dual-channel approach aims to maximize founder quality and deal discovery in a highly competitive early-stage landscape.
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Fund size, LPs and track record.
Leadership
BlackWood Ventures is led by founder and CEO Bastian Larsen, who brings a strong operational and investment background to the firm. Under his leadership, BlackWood has built a cross-European team and an infrastructure-first VC model. Steffen Saltofte, CEO of Zentiva, serves as a limited partner and board member at BlackWood, adding further strategic depth to the firm’s leadership.
Investment Strategy
The firm’s investment strategy is centered on disciplined early-stage deployment, with follow-on flexibility and a focus on founder-market fit. BlackWood uses a hybrid approach combining high-touch human sourcing via its network of angels and institutional LPs, with data-driven tools to improve deal screening and reduce bias in evaluation.
This structure enables the firm to move quickly while maintaining rigorous due diligence. Their goal is to identify founders with deep market insight and give them the resources, connections, and capital needed to build foundational technology businesses across Europe.
Notable Investments
BlackWood Ventures has invested in standout companies such as:
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Leadership, investment strategy, notable investments and exits.
