The investment team of millennials focuses on backing a new generation of European entrepreneurs. They have developed a human-centric founder support model, providing teams with leadership training.

Backed LLP currently manages three funds, with Backed 1 LP and Backed 2 LP initially investing in seed stage deals whilst Backed Encore 1 LP invests in later stage follow-on rounds of more established companies already invested in via Backed 1 LP and/or Backed 2 LP.

Stake value (12/31/2021) € 142 M
Distribution received to date (12/31/2021) € 6 M
Investment case

As part of a long-term agreement, Sienna Investment Managers committed (i) EUR 25 million in September 2017 into Backed 1 LP; and in 2019 (ii) EUR 25 million into Backed 2 LP and (iii) EUR 25 million into Backed Encore 1 LP.

Additionally, in 2021, Sienna Investment Managers increased its commitment to Backed 2 LP by EUR 5 million and to Backed Encore 1 LP by EUR 10 million.