Pact, a recently launched seed fund VC, has secured $36m to back early-stage startups across Europe.
According to a report from TechCrunch, the VC counts Oscar-winning actress Anne Hathaway as one of its limited partners (LPs).
Other LPs include Jeff Dean, the Head of AI at Google, and Keith Teare, a founding (and former) shareholder of TechCrunch and former tech entrepreneur in the UK and US.
They are joined by Anchor investor Campden Hill Capital; Yeming Wang, the former head of EMEA of Alibaba; Fahd Beg, the COO of Naspers; Todd Ruppert, the retired CEO of T. Rowe Price Global and venture partner at Greenspring Associates, and Tilo Bonow, CEO of PIABO.
Pact is an early stage fund backing founders that are solving key issues facing the future generations: democratising access to products and services, advancing personal and professional wellbeing, and solutions for a more sustainable planet.
The three partners, Tong Gu, Reem Mobassaleh Wyndham and Monik Pham were former VC’s in other funds.
“We promise that we’re going to leave the world a better place through our investments, hands-on support, and global networks,” the company said.
With the capital, Pact will target ‘mission-driven’ startups in what it calls the “ABC” categories: Access (economic inclusion), Betterment (personal and professional well-being), and Climate.
“In recent years, the world has experienced a societal and generational shift, where consumers and companies increasingly demand purpose driven products and services, creating new and large market opportunities that have historically been underserved,” the company said.
They reportedly were raising the fund for a little over a year. Wyndham said, “What we observed within the early-stage landscape in the UK was a few key things that were missing. There are very few early-stage fund managers that have both operational experience and deep operational experience abroad in emerging markets. And that’s something that the three of us, in a very complimentary way, bring to the table.”
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