Identity.vc is providing both capital and community support to Europe’s LGBTQ+ venture ecosystem

When Til Klein and Jochen Beutgen came across Gaingels, the U.S.-based syndicate of angel investors backing LGBTQ+ founders, they wondered why there wasn’t a similar firm in Europe. Five years later, when such a firm still didn’t exist, Klein and Beutgen decided to launch one themselves.

In 2023, the pair launched Identity.vc, a venture firm that invests in early-stage companies with at least one founder or executive who identifies as a member of the LGBTQ+ community. The Berlin-based firm is currently raising €50 million for its debut fund and has closed on €15 million thus far. They also brought on Mari Luukkainen, who has prior operating and investing experience, as a principal.

Identity.vc writes checks ranging from €250,000 to €1.5 million into companies from the pre-seed to Series A stages. The firm is sector agnostic and invests in Europe and beyond. So far, Identity.vc has backed four companies, including eco.mio, a software plugin that helps companies manage the environmental impact of their business travel, and Paxton, an AI legal tech company.

“The majority of LGBTQ+ founders are not out to their investors because they feel that could be a disadvantage,” Klein told TechCrunch. “We think that is a big mistake and [that means] you don’t have this trusted relationship with your investors. Those investors who don’t like it, you don’t want to have them on your cap table. You should be able to be yourself.”