We are an early stage, and very biased, VC fund.

Designed for Europe's exceptional immigrant founders.

High Conviction Investing in Immigrant Founders from Day 1

Capital

We engage with founders at idea stage, often being the first investor to commit capital, ranging from $150k to $250k, and supporting them to close their funding round.

Immigration Support

We'll back founders regardless of their visa and settlement situation. We provide immigration support and can sponsor visas, to help founders transition into entrepreneurship.

Network Access

We give the founders we back access to downstream VC funding and we'll introduce them to our existing network of clients and partners.

Why back immigrant Founders?

Whilst immigrants make up 13 % of the UK population, they founded 36% of all unicorns.

Note: Non-EU 1st and 2nd generation. Source: ONS, NLV research

2.6X

Increase in the proportion of UK unicorns founded by immigrants over the past decade.

% of unicorns founded by immigrants

Source: NLV research

And the best is yet to come...

In the next decade,

2 out of every 3 new unicorns

in Europe will be founded by an immigrant.

% unicorns founded by immigrants

Number of unicorns

Source: NLV research

Our Portfolio

Hi, I’m Ramzi.

Ramzi Rafih is the General Partner of No Label Ventures. Having started his career at J.P. Morgan, he has more than ten years of investing experience as an angel at the early stage and as a late-stage investor at KKR and Silver Lake.

Ramzi is originally from Lebanon born to immigrant parents during the Lebanese civil war. He immigrated to France for his studies and later to the UK for his career. He’s a mechanical engineer by training and is fluent in French, Arabic, and English.

Our Approach

We share

Each founder we back becomes an owner in our fund and receives a share of the carried interest generated by No Label Ventures

We’re very biased

75% of the startups we backed were founded by a diverse team, where at least one founder is a woman, an ethnic minority or under-represented.

We act like angels

We help when we can. And we get out of the way when we can't.

Some frequently asked questions (1/2)

We believe that investing in European immigrant-founded startups is an over-performing, yet often overlooked, strategy. In the US, 55% of unicorns are founded by immigrants, compared to 25% in Europe. As the European tech ecosystem matures over the next decade, we predict that two out of three new unicorns will be founded by immigrants. The UK, Europe's most mature tech ecosystem, already has 36% of its unicorns founded by immigrants, up from 14% a decade ago.
No, we only require one founder in the team to be an immigrant.
We support immigrants in Western Europe, who have migrated from any country outside of Western Europe. We back first and second-generation immigrants.
It's never too early for founders to reach out to us. We frequently collaborate with founders who are still employed, working on an idea, looking for a co-founder, or building a minimum viable product (MVP). We often invest before a product or revenue is generated.
We invest capital, provide visa/immigration support and make beneficial introductions to the founders we back, namely to angels, VCs and target clients.
We're the only VC fund in the UK and Europe to help the founders we back in every step of the visa process. We partner with a top law firm to ensure our founders get the best visa under UK & EU regs. We cover all visa costs & provide this service free of charge – it's part of our value-add to founders.

We believe that investing in European immigrant-founded startups is an over-performing, yet often overlooked, strategy. In the US, 55% of unicorns are founded by immigrants, compared to 25% in Europe. As the European tech ecosystem matures over the next decade, we predict that two out of three new unicorns will be founded by immigrants. The UK, Europe's most mature tech ecosystem, already has 36% of its unicorns founded by immigrants, up from 14% a decade ago.
No, we only require one founder in the team to be an immigrant.
We support immigrants in Western Europe, who have migrated from any country outside of Western Europe. We back first and second-generation immigrants.
It's never too early for founders to reach out to us. We frequently collaborate with founders who are still employed, working on an idea, looking for a co-founder, or building a minimum viable product (MVP). We often invest before a product or revenue is generated.
We invest capital, provide visa/immigration support and make beneficial introductions to the founders we back, namely to angels, VCs and target clients.
We're the only VC fund in the UK and Europe to help the founders we back in every step of the visa process. We partner with a top law firm to ensure our founders get the best visa under UK & EU regs. We cover all visa costs & provide this service free of charge – it's part of our value-add to founders.
We are sector agnostic.
We are seeking exceptional founders. Those who have the vision and ability to build startups that can become very large companies in 5, 7 or 10 years. And those founders with a unique and unconventional view on the future of the industry or the problem they are tackling.
We are currently focusing on immigrant founders who are already in Western Europe and creating startups there.
We invest between $150k and $250k in each round, and can often invest more in collaboration with our investors/limited partners. We are also able to provide follow-on investments.
We co-invest with other VCs. In fact, we often help the founders we back raise capital from VCs who lead rounds. We lead by "conviction"; that is, we are often the first to invest in a round, helping other investors build conviction in the founders we support.

Some frequently asked questions (2/2)

We are sector agnostic.
We are seeking exceptional founders. Those who have the vision and ability to build startups that can become very large companies in 5, 7 or 10 years. And those founders with a unique and unconventional view on the future of the industry or the problem they are tackling.
We are currently focusing on immigrant founders who are already in Western Europe and creating startups there.
We invest between $150k and $250k in each round, and can often invest more in collaboration with our investors/limited partners. We are also able to provide follow-on investments.
We co-invest with other VCs. In fact, we often help the founders we back raise capital from VCs who lead rounds. We lead by "conviction"; that is, we are often the first to invest in a round, helping other investors build conviction in the founders we support.

Ready to join us? If you are a founder you can pitch to us here

Pitch here