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Fuel Ventures has announced an early-stage VC fund to invest in 60 tech companies in the UK, having high-growth potential, in the next 12 months. Since its founding in the UK, Fuel Ventures has focused on technology companies, marketplaces, SaaS startups, and platforms, identifying investments in seed and growth stages.
Fuel Ventures, London-based venture capital and private equity firm that invests in technology companies in the UK, has announced its $63M early-stage VC fund, which aims to invest in 60 startups in 12 months.
In an interview with TechCrunch, Mark Pearson, founder and managing partner at Fuel Ventures and Fuel Capital, stated that the VC firm now has a responsibility to invest in the future of the UK technology landscape and build on its strong work done so far.
Now is not the time to take the foot off the pedal and say, job done. This, for us, means making sure we are providing capital for forward-thinking entrepreneurs and their innovative early-stage businesses, even if that means just having an idea or MVP.Mark Pearson, founder and managing partner at Fuel Ventures and Fuel Capital
Founded in 2015, Fuel Ventures focuses on technology companies, marketplaces, SaaS startups, and platforms, identifying investments in seed and growth stages in the UK. The Fuel Ventures Portfolio invests in those technology companies in their early stages, having exceptional growth potential, providing substantial returns.
Fuel Ventures has raised £80 million ($113.2 million) in capital to invest in seed and Series A founders. With the new dedicated fund, the VC firm will also eye pre-seed ventures and is confident of emerging as a prolific early-stage investor in the UK. Alongside the new fund, Fuel would open up its workspace in Central London to serve its portfolio.
According to Mr. Pearson, there still exists a funding gap between the seed and the Series A. Stating that the firm has always sat in the seed stage, he added
We wanted to write a decent check to allow these companies what it takes to hire the best talent, build out their product at scale and get them into the institutional funds. We can help you, we will roll up our sleeves, and we’re going to build the business with you.Mark Pearson, founder and managing partner at Fuel Ventures and Fuel Capital