British tech investment engine Accelerated Digital Ventures (ADV) has struck investment deals with six UK digital technology firms.
The firm, founded in January 2017, will invest sums – currently undisclosed – in a number of UK-based startups and accelerators, including London-based farming firm WeFarm, Edinburgh-based health tech service Care Sourcer, and Bath-based fitness startup MoveGB.
ADV says it brings a “patient and evergreen approach” to investment, and is backed by insurance firm Legal & General, fund manager Woodford Investment Manager, and British Business Bank (BBB).
Leo Strafford, the CEO of ADV, said there are “now thousands of startups … across the UK and Ireland. This growth has been hugely fostered by seed partners – the early stage funds, incubators, accelerators and angels – which commit time and funding to helping these businesses grow.
“However we calculate there is still a circa £3.5bn venture gap in the UK. ADV is committed to creating a nationwide venture platform to plug this gap by funding digital technology companies with institutional capital right across the life cycle, from seed through to scaling big.”