Return on Inclusion | April 3, 2023

No Label Ventures to channel capital to immigrant-led businesses in Europe

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, April 3 – People who uproot their lives in one place are uniquely compelled to succeed in another. That’s the premise of No Label Ventures’ investment thesis.

The U.K.-based venture capital fund was founded by Lebanese immigrant Ramzi Rafih to invest in startups led by immigrant founders from outside of Europe.

“The bigger the journey, the bigger the formative experience,” Rafih told Forbes. He’s betting that “two out of three new unicorns in the U.K., France and Germany will be founded by an immigrant over the next 10-15 years.”

The fund, which will cut seed checks of up to $250,000 to new entrepreneurs, reached a first close at about half of its $15 million target.

Investor and sponsor

The U.K., which once offered a broad self-employment visa for highly-skilled migrants, has narrowed the scheme to focus on tech talent. To make it easier for entrepreneurs specialized in healthcare, finance, and food and beverage to remain in the U.K., No Label Ventures will provide employment and visa sponsorship.