Future Positive holds first close for debut fund on $57m

Future Positive was founded in 2017 by former Index Ventures executive Sofia Hmich and is targeting $100m for its first fund.

The fund will primarily target European "deep-tech" startups (companies based on substantial scientific advances and high-tech engineering innovation) at seed and series-A stage, and has already made two investments.

Hmich co-founded the VC firm with the former French head of General Assembly Alexandre Terrien and Pamplona Capital Management's Michael Rosen.

The fund is registered in France as Future Positive Fund I, it has a minimum investment size of $33,600, according to an SEC filing.

Investors
Institutional LPs including BPI France, Draper Esprit, the European Investment Fund and Isomer Capital have backed the first close, alongside private investors such as Walter Butler, Henri de Castries, Marie Eriksson, Robin Klein and Francois Lemarchand.

Investments
Future Positive Fund I will build a portfolio of 20-25 startups, primarily investing at seed and series-A stage with the capacity to follow on at series-B. It will make investments in the range of €300,000-5m.

The fund has already invested in Dutch lab-grown meat producer Meatable and Oxford-based mental health prevention company BioBeats.

People
Future Positive Capital – Sofia Hmich, Alexandre Terrien, Michael Rosen (co-founders).

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