‘Open economy’ backers Fabric Ventures announces $130m fund July 29, 2021 A venture manager that backs ‘open economy’ founders, has today announced a new 2021 fund worth $130m (£93m) – the biggest of its type in Europe. The fund is backed by $30m from the European Investment Fund (EIF) and its partners include Niklas Zennstrom’s venture firm Atomico, Mike Novogratz’s Galaxy Digital, DCG and the founders [...]
Index Ventures invests $1bn into UK startups and will create 5000 jobs within a year July 23, 2021 Transatlantic venture capital firm Index Ventures has raised $3.1bn in new funds and directly invested $1bn in UK startups to create 5000 British jobs in the next year. Index’s latest cash injection comes just a year after Index raised its last set of $2bn funds. The UK is Index’s single largest destination for investments in Europe, and [...]
Draper Esprit floats to become largest tech VC on London’s main market July 23, 2021 UK venture capital firm Draper Esprit today announced it has made the jump from the AIM to London’s main market, with a market value of £1.4bn – the largest tech-only focused VC on the London Stock Exchange (LSE). The move comes exactly a month after the firm announced its intention to make the leap and [...]
Forward Partners loses pre-trading gains on London AIM debut July 19, 2021 Tech-focused venture capital firm Forward Partners’ pre-trading gains were eroded by almost 13 per cent upon its listing on London’s AIM market on Monday morning. Shares in the VC firm slid to 100p at some points on Monday following its AIM debut – in line with its float price, and 12.5 per cent down on [...]
Exclusive: Two City lawyers on a mission to make their fintech the ‘Amazon of Islamic finance’ July 19, 2021 Islamic Finance Guru (IFG), a UK-based Islamic finance platform, has closed an investment round led by Outward venture capital, as the market for Islamic fintech grows. The UK-based startup has raised £3m from Outward VC and B&Y Venture Partners. The news come just a week after the Boubyan Bank Group announced that the world’s first [...]
Tide banking valued at $650m, after securing $100m in funding July 12, 2021 Tide Banking, the UK fintech startup, has raised over $100m in Series C funding, bringing its valuation to over $650m (£468m), the company announced today. The four-year-old startup has raised a total of $200m to date including the latest funding. The injection of cash will allow the company to grow its market share, and expand [...]
Draper Esprit pulls out of AIM ahead of float on main market June 23, 2021 UK venture capital firm Draper Esprit has confirmed plans to move from the AIM to the main market of the London Stock Exchange. Draper said that the company had reached a size “to justify its migration from the AIM market” following a year of portfolio strengthening. “The company hereby gives notice of the intended cancellation [...]
Exclusive: IPO frenzy gives investors confidence to back emerging markets, says venture capital boss May 25, 2021 2020 saw many businesses and the flow of consumer cash into the economy put on hold. In early 2021, after months of volatility, Covid-19 vaccines started to offer hope, with business sentiment slowly recovering, and growing ever more optimistic as forecasts remain strong, and new variants seem to be covered by the inoculations. IPOs and mergers and acquisitions continue [...]
Draper Esprit’s tech bets pay off as portfolio value jumps 35 per cent April 26, 2021 UK venture capital firm Draper Esprit has increased its gross portfolio value by more than 35 per cent to £955m in the last year, the company said this morning. Delivering its full year trading update, Draper Esprit said the market for tech company investments has been “exceptionally strong” during the pandemic. Martin Davis, CEO of [...]
Sunday Sitdown: Investors look past political changes as Brexit offers a chance to alter investment regulation, says City veteran April 18, 2021 More than 440 firms in banking and financial services have relocated part of their business, moved employees or set up new entities in the EU following Brexit. Dublin and Paris are the go-to destinations, as banks have moved or plan to move more than £900bn in assets to the EU, equivalent to 10 per cent [...]