Est. 2001. Raised £150m+ across 3 funds. Early-stage software VC with 85+ investments, 22 exits, c.6–7 team members (4 partners: ex-operators). Portfolio: FanDuel, Nutmeg, Acunu, TravelNest, Causaly, Deep Render, Lifebit, Vauban. Co-invests with Index Ventures, Iconiq Capital, Amadeus. Created ~1,700 jobs across portfolio. Active 2024; recent: TravelNest (Apr 2024).
Investment Focus
Investment Thesis
Seed to Series A. B2B & B2C software. Focus: AI/ML, blockchain, fintech, health, mobility, enterprise transformation. UK-wide (Edinburgh, London hubs). Prefers first institutional investor. Avoids: highly fragmented founding teams (4+ founders). Check size £500k–£2m initial; up to £10m lifetime. Ex-operators with deep tech. Portfolio exits: 22 (FloodFlash Feb 2025, acquisitions by Apple/Oracle).
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