European VC firm Emblem held the first close of its seed fund at $54M (€50M), against a target of $80M (€75M).
The firm intends to back startups working on AI, B2B SaaS, fintech,
digital health, and the future of work across France, Denmark, or
Sweden.
- The firm expects to hold the final close of its fund and reach its target by the end of this year.
- Emblem expects to lead or co-lead investments, with check sizes ranging from $540,000 (€500,000) to $3.2M (€3M).
- Emblem intends to back 25 to 30 startups from its first fund.
- The
firm's fund received backing from Danish sovereign fund Vaekstfonden,
institutional investor Edenred, and several family offices.
- While it will earmark certain capital for follow-on funding rounds, it intends to remain a seed-stage investor.
