London and Brussels-based investment firm Pario Ventures was founded in 2010 by Kevin Doyle and David Murray-Hundley, a partnership that dates back to the pre-dotcom era. In a recent development, the VC firm has closed a £3.5 million seed funding round. The firm plans to use the fund to establish and grow operations in London and the US.
Pario has previously built a small portfolio of investments based in the UK and US but until now had not been a business they had worked on full time. They were involved with NASDAQ IPOs, AIM listings, multiple raises, US trade sales and have a portfolio of investments across Oil and Gas, Space expedition, Sustainability, Automotive, Technology, Bars, Restaurants and Fintech.
£3.5M for expansion
Now, Pario Ventures is set to launch in the US this summer with an office in New York. Also, it eyes to grow its operations in London and Brussels.
“We are very excited about the next chapter and after working together for 25 years decided that lets do one last business together but at the same time focus on businesses that need support or where shareholders and founders are looking for a exit on a business after maybe a 10 year journey” said David Murray-Hundley co-founder and CEO. We have enjoyed working closely with some founders and shareholders over the years and helping them drive to an exit. It feels like in the past 15 months we have increasingly seen founders and shareholders of longer term companies looking for an exit. Whether that be because life priorities have changed or we have all had a moment to reflect on what maybe is important.”
“We have great expectations for sustainable growth on this round of investment deals and are pleased to be working with like-minded teams and people to deliver on Pario Ventures mission” added Kevin Doyle, co-Founder Pario Ventures Ltd.
The VC firm is also close to completing a £40 million fund that will be used to invest in mobility, hospitality, and some companies looking at primary and secondary rounds as well.
Also, it eyes to invest in a decade-old UK company this month — a major business that requires growth capital. Following the developments, Pario Ventures will also fund a Bristol-based tech company in its US expansion plans for September 2021.
Furthermore, it also aims to fund an early-stage fintech company based in the UK by the end of this month. Watch out this space for more updates.