European venture capital funds are increasingly adopting investment strategies focused on women founders and diverse teams. These funds vary in their requirements, ranging from specific equity thresholds to broader diversity mandates that include underrepresented groups.
Auxxo Female Catalyst Fund requires at least one female founder to hold 20% of shares. The firm recently closed its second fund at €33.3 million. SISTAFUND mandates that women hold at least 30% of founder shares, while Borski Fund requires a 30% stake for female founders.
Other firms like CapitalT, Merian Ventures, and Arāya Sie Fund prioritize women-led or co-founded startups without setting strict equity minimums. Fund F, which invests up to €600 000, requires the presence of a female co-founder for its pre-Seed and Seed-stage investments.
Impact Shakers manages a €20 million impact fund and a €2.5 million Microfund II, focusing on diversity and impact. Revaia targets growth-stage companies and tracks ESG metrics, reporting that female board representation in its portfolio reached 65% in 2025.
Unconventional Ventures supports underrepresented founders, including women and immigrants, in the Nordics. Founders are advised to verify specific eligibility criteria, as definitions of diversity and required equity stakes differ significantly across these ten investment vehicles.
