While female founders raised the lowest proportion of total capital since 2017, just over 1% of overall VC funding in Europe went to founding teams solely made up of ethnic minorities last year.
Leveling the playing field, Porto-based digital musculoskeletal care provider SWORD Health founders Virgílio Bento and Márcio Colunas have launched a new venture capital fund focused on investing exclusively in companies founded by underrepresented entrepreneurs. The founding partners will be joined by four founding members, André Eiras, Fernando Correia, Ivo Gabriel who have committed $5 million over the next 5 years for the new fund, EX Capital.
Virgílio Bento, co-founder, EX Capital said: “Many of the hardest working and innovative…