Auxxo Raises Over €33 Million to Back Female-led Startups

Early-stage venture capital firm Auxxo announced today that it has raised €33.3 million (USD$38.2 million) at the final close of Auxxo Female Catalyst Fund II, aimed at backing female co-founded startups across Europe at the pre-seed and seed stages.

The fund marks Auxxo’s second Female Catalyst Fund, following the launch of the first vintage of the fund in 2021, which closed at €19 million.

Founded in 2019, Berlin-based Auxxo focuses on driving equitable participation of women as founders and investors in venture capital. The fund is sector agnostic, targeting pre-seed and seed stage female (co-)founded startups in Europe, and was established to advance the role of women in the startup and VC industry. Auxxo invests only in early-stage startup teams with at least one female founder holding a minimum of 20% of the founder shares.

According to the company, the new fund’s portfolio includes 11 companies across various industries from climate data and AI to robotics, space, deep tech and healthcare, including Emidat, Resolutiion, Stanhope AI, Kito AI, Marble Imaging, Noxon GmbH, SEAL Robotics, BioOrbit, NanoStruct GmbH, Delta Labs, and Radiogenesis.

Limited partners in the fund include Aurum Impact, EnBW New Ventures, Cherry Ventures, and Speedinvest, alongside family offices, business angels, and founders from across Europe, alongside the European Investment Fund as anchor investor. More than 50% of Auxxo’s limited partners are women, the company added.

Alongside the final close, the company also announced the launch of its pan-European Founder Matchmaking Platform, designed to connect founders with potential co-founders and help turn early-stage ideas into companies. According to the company, female founders remain significantly underrepresented, with women comprising only 19% of founders in Germany.

In a post announcing the close and the launch of the platform, Auxxo Principal Alena Redeker said:

“The numbers are clear: we still lack our fair share of female founders, only 19% of founders in Germany are women. We want to change this by helping ambitious entrepreneurial talent form diverse teams.”