New solo GP fund from the SaaStock founder Alex Theuma

Via Sifted

Alex Theuma, founder of SaaStock, has launched Backfuture Ventures, a solo GP fund targeting early-stage SaaS companies, primarily in Europe. The fund has secured $3 million of a $10 million target and plans to write £100k-200k cheques into pre-seed and seed-stage companies. Despite market challenges, Backfuture has 48 LPs, including notable founders and investors, and has invested in six startups so far. Theuma leverages SaaStock's extensive network to provide strategic value beyond capital. He is working on the fund part-time, with plans to go full-time in the future. Theuma's fundraising strategy involved gradually increasing the minimum cheque size to attract a concentrated pool of LPs.

Theuma aims to keep the number of LPs under 100, currently having 48 from around 200 approached.