London’s Fuel Ventures has announced a new £100 million fund specifically aimed at supporting over 60 UK-based startups with pre-seed and seed round investments.
The firm is specifically looking for high-octane performers in the areas of software (SaaS), marketplaces, fintech platforms and e-commerce. Pre-seed investments will see ticket sizes ranging up to £250,000 and seed to Series A tickets will go as high as £4 million. As you’d expect, a percentage of the new fund has been reserved for follow-on investments.
To date, Fuel Ventures has helped fire the pistons at over 140 companies and has been one of the first ticket issuers in Volt, Capdesk, ContentCal, OnBuy, Lunio, Heroes, and Peckwater Brands.
“We are investing in the long-term future of the UK tech landscape. Despite the pain the industry is feeling at the moment, now is not the time to hold back,” says Fuel crew chief Mark Pearson. “There remains exciting entrepreneurial talent and incredibly innovative tech businesses with huge potential. These are the ones that need our support at their most vulnerable; those early days when capital and support from experienced backers are vital.
I have been there myself and know how hard it can be to get a business off the ground. My aim is to invest in and work with a greater number of tech ventures that will contribute to a stronger tech landscape in the years to come.”
Fuel Ventures has most recently invested in consumer goods and retail industry analytics platform Interrodata, fintech payment infrastructure builder Volt, SME accounting solution Outmin, and independent event suppliers booking platform Togather.
"Fuel Ventures was one of the first to back and have continued to be by our side as we have grown, expanded into new regions, and challenged the market with our approach to real-time payments. They saw the potential right from the get-go, supporting and advising us so that we have been able to get to the extraordinary stage we are today," said Volt founder Tom Greenwood.