London-based seed-stage venture capital investing in the future of business automation SuperSeed has completed the first closing of its new fund at £31 million, targeting a final close of £50 million. The fund will put in between £500k and £1.5 million into 30-35 UK-based startups and those looking to use the U.K. as a springboard to the rest of the world.
The company invests in startups that transform how business works. Growth in business automation is huge, recently accelerated by Covid. Going forward, the VC firm will invest in 30-35 B2B software companies over the next 3-4 years, helping them kick-start sales and building the foundation for global market reach.
Mads Jensen, Founder and Managing Partner at SuperSeed, said: “When it comes to marketing and sales the Americans have historically had an edge on us here in Europe, and we have to do better if we want to compete on the world stage. At SuperSeed we play a highly active role helping early-stage founders create powerful go-to-market strategies. We provide best practice on how to build a successful B2B startup and work with founders to build out their team, craft processes, and truly accelerate the journey from Seed to Series A.”
Dan Bowyer, Founder and Partner at SuperSeed said: “Most startups fail mostly due to a lack of product-market fit. It’s imperative to find and focus on the right customers, while filtering out faster horses. All the while avoiding the natural tendency to get sucked into polishing the product, thinking if it’s better, they will come. As entrepreneurs we’ve experienced the allure.”