UK Launches First VC Fund for Refugee Founders, Backed by Atomico
The Refugee Venture Fund opens with £300,000 in initial capital, aiming to build a track record ahead of a planned £10 million fund for refugee-founded businesses.
AfroEuropa Newsroom
AfroEuropa desk
The Refugee Venture Fund (RVF) has launched in the UK as a venture capital vehicle focused solely on backing high-growth companies started by refugees, according to reporting by Tech.eu and Sifted.
The fund begins with £300,000 in initial capital, with plans to raise this to £500,000. It expects to make investments of between £50,000 and £100,000 in three to five companies, Tech.eu reported. Those early deals are intended to build a track record ahead of a planned £10 million fund targeting refugee-founded businesses.
The RVF was established by The Entrepreneurial Refugee Network (TERN), which has supported refugee entrepreneurs for a decade, with backing from Atomico. Tech.eu reported that founding investors named in the fund's briefing include Dominus, This Day Foundation, and Future Leaders. TERN previously spun out Skylight Ventures, which provides microloans to refugee entrepreneurs.
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