Kindred Capital closes £105m for third venture fund

Kindred Capital third fund Image credit: Kindred Capital

London-based venture capital firm Kindred Capital’s third fund has closed $130m (£104.6m) to invest in pre-seed startups.

Leila Zegna, general partner, Kindred Capital, said: “From fintech to fertility, cell and gene therapy to retirement communities, we see talented founders building businesses in many important spaces that help shape the future trajectory of the country.”

Previous investments from Kindred Capital include the fintech company Paddle and post-quantum cryptography tools maker PQShield.

The firm typically invests between $200k (£160k) to $3m (£2.4m) in no more than 30 companies for each fund and only leads or co-leads rounds.

Since its launch in 2015, Kindred Capital has operated on an “equitable venture model”, where profits from the fund are distributed to portfolio company founders.

Catherine Lewis La Torre, CEO, British Patient Capital, said: “Their investment approach of actively partnering with founders by building a network of collaboration within their portfolio is fully aligned with our mission to help innovative companies scale up and fulfil their potential.”

British Patient Capital contributed £21.6m to the total investment for Kindred Capital’s third fund.

British Patient Capital has been a long-time contributor to the early-stage venture capital firm, having backed its first fund in 2017 as well as its second in 2020.