Unconventional Ventures Reaches Second Close of Fund II

Unconventional Ventures has announced the second close of Fund II, aimed at backing diverse founders building impact-driven technology companies.

The VC firm welcomed new investors to Fund II, including Wire Group, Investinor, FÆRCH OG DØTRE, and Merete Lundbye Møller. Returning backers include Investinor and Færch and Daughters.

The investment will allow the firm to strengthen its team and bring in new perspectives, helping it better support the founders in its portfolio.

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Unconventional Ventures is Backing Diverse Startups

Founded in 2019 by Nora Bavey and Thea Messel, Unconventional Ventures is a pre-seed and seed-stage venture capital fund based in Western Europe/Nordics. They focus on diverse founders (women, people of color, LGBTQ+, immigrants) building scalable impact tech companies in Climate, Health, Education, and Equitable Tech. 

Unconventional Ventures focuses on climate and environment, health and femtech, education, and financial inclusion. Current portfolio companies span the European map: Climate X in climate fintech, UK’s Moonhub in VR Edtech, Sweden’s Scifree in edtech, Denmark’s Cellugy in biotech, and femtech player The Blue Box. 

UrbanGeekz previously reported that the firm closed €50 million (about $58 million) for Fund II in November 2025. It’s now aiming for €80 million, ∼or $94 million, in total.

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Bavey made the announcement on a LinkedIn post. She appreciated the continued support from returning investors such as Investinor, @Færch, and Daughters. Furthermore, she acknowledged new LPs like Wire Group and Merete Lundbye Møller, who share our belief in backing what others too often overlook. 

“This milestone allows us to keep building, not just investing but strengthening the team and bringing in new perspectives so we can better support the founders we back. Thank you to our new team members for joining us and already giving so much of yourselves to what we’re building,” Bavey said.

And to our founders: you are at the heart of all of this. You’re building in spaces that aren’t always obvious. Challenging assumptions. Creating companies that reflect the world as it is. Being part of that journey is something we’re deeply proud of. This isn’t a finish line, it’s a step forward at the right time, in a world that needs more of this,” she wrote.

What The Investors Are Saying and What’s Next

One of the new investors, Wire Group, an impact investing firm focused on diversity and inclusion and on measurable social and environmental impact, commended UV for how it is shaping the next generation of founders. 

“We’re thrilled to join the UV team in their second fund,” Ronald Janse, Chief Conscious Capital at Wire Group, commented. “The fund’s thesis is a perfect match for our Wire Thrive Fund II: investing in underrepresented founders who are building meaningful, future-shaping companies. UV’s rare combination of inclusion and impact—paired with an exceptional team—makes us genuinely excited to participate in this closing.”

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Unconventional Ventures believes the next generation of scalable, sustainable companies will come from ambitious founders who’ve too often been overlooked. The firm is committed to finding and backing them while helping build a more equitable and sustainable future.