Three years, three months and three days after the start of HackFwd, a pre-seed fund for passionate geeks out of Europe, its founder Lars Hinrichs today officially announced the end of the program.
Since its foundation, HackFwd received over 3,000 applications and invested in 16 European startups. Hinrichs, who is also the founder of the European Linkedin competitor XING, today stated in a good bye article on the HackFwd blog: “I invested in total around 8 million into HackFwd & our portfolio companies. Will it pay off? At minimum, we are certain it will pay a good dividend. But is the portfolio worth 2 or 3 times our investment? Maybe. The future will tell. But knowing that we won’t lose money (especially compared to many other investors, accelerators and Incubators or even VCs) is still a solid outcome.
On HackFwd’s blog Lars Hinrichs today also shared the whole story behind this ambitions project and his thoughts on what HackFwd got right and what it got wrong.