Forward Partners planning to raise £60m start-up fund in 2017
Raised from limited partners in the UK and Silicon Valley, new fund will look to back 48 businesses over the next five years
Forward Partners, a major UK venture capital firm, has announced plans to raise a £60m start-up fund next year.
Formed in 2013 by Startups Awards Judge Nic Brisbourne, Forwards Partners invests between £250,000 and £750,000 in early-stage e-commerce companies. To date it has raised £21m.
Raised in partnership with ex-Google salesperson Martyn Holman, the finance will be sourced from limited partners in the UK and Silicon Valley, with the aim of closing by the end of 2017.
It will be used to support 48 start-ups over the next five years, who will also benefit from office space and a team of engineers, designers, public relations, human resources and marketing professionals.
Amongst the 31 companies in Forward Partners portfolio – which are estimated to have a combined valuation of more than £1bn – are Startups 100-listed Zopa, Appear Here and Startups Awards finalist Lost My Name.