Ex-Initial Capital partner raises $30m for Boost Capital

Boost Capital Partners invests in pre-seed and seed companies "building exceptional user experiences to solve real-life problems."

Boost Capital Partners announced it has raised $30 million in the first close of an inaugural fund to “support founders who are building exceptional user experiences to solve real-life problems.”

The London-based firm did not disclose the target for the fund or the names of investors, but TechNews 180 reported that the firm is seeking up to $40 million and has backing from “European family offices and unicorn founders.”

Alvaro Alvarez del Rio (second from left) and the Boost Capital Partners team

Boost was founded by Alvaro Alvarez del Rio, who previously spent about 10 years as a partner at Initial Capital, a London-based investor and accelerator for seed and early-stage technology focused on games and consumer services. His track record includes early investments in Deliveroo, Hutch Games, Supercell and Tenor.

Alvarez del Rio told TechCrunch that he “decided to raise a fund to help founders that are digitizing real-economy industries create gaming-level user experiences (acquiring, engaging, retaining and monetizing user bases) to improve lives and achieve better outcomes.”

Joining Alvarez del Rio are partners Ignacio Monereo, former head of gaming creators for EMEA and APAC at Meta, and Pablo Morenes, who was previously a portfolio analyst at Algebris Investments. As a group, the founding team has more than 25 years of experience investing in the digital consumer and gaming industries, Boost said.

Boost invests in pre-seed and seed companies with initial ticket sizes of up to $750,000 and follow-on capabilities. So far, the firm has backed seven companies in Europe and Latin America.