Isomer Capital secures first close of £216m investment fund

Isomer Capital Fund Image credit: GagliardiPhotography via Shutterstock

London-based Isomer Capital, which backs venture capital funds and startups directly, has completed the first close of its €250m (£216m) fund by securing one-third of its target.

Isomer Capital III will continue the firm’s history of targeting emerging VC and growth startups across Europe.

“As a pioneer of the VC ‘fund of funds’ model in Europe, with a track record of backing some of the best VCs and emerging managers across the continent, we will strive to continue delivering strong performance and consistent returns with Isomer III,” said Chris Wade, partner and co-founder of Isomer Capital.

A commitment of up to €60m (£52m) was made by British Business Investments (BBI), the commercial subsidiary of the state-backed British Business Bank. BBI has previously backed the VC firm, contributing to the firm’s previous two funds.

“Isomer Capital is a specialist fund of funds manager, with well-established venture and growth capital investment capabilities,” said Judith Hartley, CEO of British Business Investments.

“Following our support for Isomer’s ICII in 2020 and the Opportunities Fund in 2021, we are pleased to commit to Isomer Capital III to continue our support for innovative growing businesses.’’

Other supporters of the fund include the European Commission, Fondaco, Happiness Capital, Italmobiliare, Nikon and PwC Germany.

Isomer has backed several notable UK tech firms in the past, including Darktrace, Hadean and Curve.