Octopus Ventures adds £100m to early-stage start-up funds

VC firm has taken total funding to £400m as it looks to help businesses develop to the later stages of growth

London-based VC firm Octopus Ventures has closed an additional £100m funding round to bring its total early stage funds to more than £400m.

Established in 1999 as part of the Octopus group, the VC firm typically invests between £250,000 to £25m – alongside follow-on-funding – into UK and European start-ups.

With more than £5.5m of assets under management, Octopus has invested in and works with the founding teams of more than 60 companies including SwiftKey, Property Partner, Secret Escapes and Uniplaces. In February, SwiftKey was acquired by Microsoft in a £250m deal.

The fundraise comes six months after the launch of the $140m Octopus Zenith Opportunities II LP, which aimed to provide funding for fast-growth, later-stage European businesses.

The funding will enable Octopus to provide start-ups with funding throughout their life cycle, from early stage to later stage growth as it seeks to “foster long-term relationships with entrepreneurs”.

Alex Macpherson, head of Octopus Ventures, commented: “Adding a further £100m to our early stage funds indicates the opportunity and belief we have in the developing European entrepreneurial ecosystem, and provides Octopus with the funds to continue to support these exceptional entrepreneurs.

“At Octopus, we want to be there supporting them from the beginning of their business journey to the later stages of growth.”

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