As pointed out in my previous post, we’ve been awarded a £30 million Enterprise Capital Fund, one of the four Enterprise Capital Funds announced to date. The announcement from the dti comes alongside Amadeus Capital Partners’ ECF fund as well.
The fund is a co-investment model, much like London Seed Capital, providing venture capital to companies in the equity gap. It will consider companies across the UK and will be investing in slightly later stage companies – those companies seeking between £600k and £1.5m, but still pre-series A funding. The managing partners include GLE (London Seed Capital’s parent), New Vantage Group, based in Washington D.C. along with Pi Capital, based here in London, among many others.
This fund goes further than London Seed Capital to provide venture capital to companies operating in the equity gap. This round of funds is a pathfinder round- with the intent to roll out the successful models on a wider basis.