London Technology Club launches £30m fund for fintech and AI startups

London Technology Club

London Technology Club (LTC) has launched a fund that aims to raise £30m to invest in promising fintech, AI and mobility startups.

This will be the third investment fund from the London Technology Club in the last three years and aims to inject its £30m into 20 to 25 investments over the next year.

The London-based investment company will be prioritising British, US, European and MENA-based startups.

Konstantin Sidorov, founder, chief executive and general partner at LTC, said: “The technology revolution of the 21st century has positively transformed the way we do business, shop, travel and receive healthcare, but for this rate of innovation to continue we must ensure that tech enterprises are backed with the growth capital they require.”

He added: “Our third fund will channel investment into the leading tech companies of tomorrow to enable them to reach their potential.

“The growth will generate long-term returns to investors, employment opportunities for the next generation, and the benefits of innovation to consumers, businesses and the community.”

LTC previously launched the Pledge Fund I, which ended up raising £17m and resulted in a capital return of 30% in under two years.

The investment club was founded in 2018 by Sidorov, an early investor in major tech successes like Spotify.

LTC was founded with the goal of creating an “investment community” by bringing together private investors, venture capital firms, institutional investors, and technology experts to provide both investments and education and industry networking opportunities.

Earlier this month, LTC launched an overseas investment hub in Dubai, with the aim of tapping into the growing opportunities in the Middle East and North African region.

Some of LTC’s previous partners include Barclays, IG Group and Petrolex.

The firm will be looking to capitalise on the UK’s thriving fintech sector, which raised just over £8.5bn in venture capital last year.