About This Fund
Backed 3 is the third seed-stage venture fund from Backed VC, the London-based firm focused on backing Europe's most ambitious early-stage technology founders. The fund held its final close in November 2025 at its hard cap of $100 million (approximately £76 million), reaching its limit after strong demand from institutional fund-of-funds and a growing base of family office and entrepreneur investors. Backed's first fund has achieved top-decile performance and returned an additional 35 percent of capital to investors in October 2025, providing strong validation for the firm's approach and helping catalyze rapid fundraising for Fund 3.
The investment mandate for Backed 3 is concentrated around three frontier technology themes: AI therapeutics — the application of artificial intelligence and machine learning to drug discovery, clinical research, and personalized medicine; blockchain and banking infrastructure — foundational layer-1 and layer-2 protocols, as well as B2B blockchain applications transforming settlement, custody, and cross-border payments; and manufacturing automation — robotics, industrial AI, and advanced production systems enabling the re-shoring and upgrading of European manufacturing capacity. Backed leads pre-seed and seed rounds with initial check sizes of $500,000 to $5 million per company.
Close to 50 percent of Backed 3's capital was committed by ten leading institutional fund-of-funds, with new investors including Isomer Capital and Wunderland Capital joining the LP base. The fund also counts over 50 family offices and founders from Backed's existing portfolio as investors, creating a flywheel of founder capital that provides both financial resources and strategic value-add for new portfolio companies. With Backed 3, the firm continues its mission of supporting founders with generational ambitions building transformative companies that can compete on a global scale from a European base.