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London VC Episode 1 Ventures launches £76m investment fund

Episode 1 Ventures Image credit: Episode 1 Ventures

London-based VC firm Episode 1 Ventures has launched its third investment fund, which has £76m to deploy across early-stage B2B startups.

Episode 1 Ventures first launched in 2013 and has since backed prominent UK startups such as Robin AI, Huboo and Carwow.

Through its latest fund, the firm will make investments of between £250,000 and £3m at the pre-seed and seed stages of startups, with some funds designated for follow-on investments down the line.

The focus of the fund will be software-led B2B firms in areas such as AI, health tech and software infrastructure.

“This new fund, our biggest yet, is really a testament to the work of our portfolio founders who are building some of the fastest growing companies in Europe,” said Hector Mason, general partner at Episode 1 Ventures.

“This fund gives us the ability to double down on our team and the proprietary tech that’s got us to where we are today, as well as providing more firepower to invest in the next generation of extraordinary founders.”

Cash for the fund came from Molten Ventures and UK government-connected vehicles the National Security Strategic Investment Fund and British Business Bank subsidiary British Patient Capital.

“Episode 1 have a track record of investing in UK B2B tech start-ups through a team of investment professionals with operational expertise,” said British Patient Capital managing director Christine Hockley.

“We are pleased to partner with them in supporting the next generation of home-grown tech start-ups to scale into the leading businesses of tomorrow.”

This week, Episode 1 Ventures participated in the close of AI drug testing startup Sable Bio’s £1.5m pre-seed round.