Impact investors launch Europe’s only ‘culture-first’ impact fund – and they're hiring

Amsterdam’s DOEN Foundation, through its venture arm, Doen Ventures, has partnered with two social impact organisations from Italy, Opes-Lcef and Moleskine Foundation, to launch what’s billed as Europe’s first culture-focused impact fund.

The fund, which will invest from seed to Series A, will be based in Milan, Italy. Its focus will be on backing “cultural and creative entrepreneurs” who can prove these sectors have growth potential, according to Doen Ventures’ principal Merijn ten Thije.

The partners are now looking for a fund manager to co-lead the new investment vehicle. The role will be based in Milan but there's an option for remote work, according to the job advertisement. 

The fund is at the early stages, Thije tells Impact Loop, and a target size has not yet been set.

How to invest in cultural impact?

Cultural and creative industries in the EU account for some 8.7 million jobs, 3.8% of the workforce, and include around 1.2 million companies, according to Eurostat figures.

Investment in “culture tech” lags far behind many other industries of a comparable size. However, that might be changing.

In September, EIT Culture & Creativity unveiled a cohort of 16 startups developing tech tools for architecture and culture.

Among them is Denmark-based CultureCache, which has built a digital platform for documenting and sharing cultural heritage using AI, and Dutch startup Body.Scratch, an AI‑powered immersive game that teaches programming to kids through movement and dance.

Culture tech is an emerging niche, but one Thije thinks holds significant potential.

“Creative and culture-centred ventures are essential to Europe’s resilience, inclusivity, and long-term economic vitality,” he said in a LinkedIn post.