One of the early-stage tech venture capitalists from the UK tech scene, Passion Capital has recently announced to open up 3rd fund for crowd investors.
As per the company press release, Passion Capital collaborated with Seedrs to deploy the fund for crowdfunding, Passion Capital Fund III. It claims to be the first Europe-based VC firm to open up a £45 million fund for retail investors. Investors can register and get qualified for investment through the Seedrs platform.
Its third fund includes new General Partner Malin Posern, who joins existing partners Robert Dighero and Eileen Burbidge. Through this opportunity, an allocation will be made available on the Seedrs platform so that any investors who self-certify as “high net worth” or “sophisticated” can back the Passion Capital portfolio and have the opportunity to invest indirectly in future household names.
Eileen Burbidge, Passion Capital partner and one of the UK’s most influential venture capitalists said: “Investment into a private venture fund is usually reserved for institutions. We are throwing our doors open to a much wider range of investors in this unique collaboration with Seedrs as we look to diversify our investor base and increase access for investors who might interest in partnering with us. This way their single investment applied across a range of world-class entrepreneurial talent, rather than through the direct single company investment traditionally made through equity crowdfunding campaigns.”
Jeff Kelisky, CEO at Seedrs, added: “This is a very innovative collaboration for both the venture capital and the equity crowdfunding space. We’re thrilled to be supporting Passion Capital in this activity. It presents our community with another avenue to participate in SME equity finance that delivers additional investment opportunities and the potential for exceptional returns, beyond the direct investment campaigns we also run.”
As of now, Passion Capital has invested in 81 tech companies worth more than £3 billion, including Monzo, GoCardless, Butternut Box, Adzuna, and Marshmallow. Passion capital established in 2011 to bring operationally-minded and founder-friendly venture investing in Europe and the UK.
It was founded by one of the former entrepreneurs instead of an assets fund manager. The VC also claims to be one of the first UK firms to publish and use an English language term sheet and not charge its portfolio companies any of its legal fees. Also, the first in Europe to publish fund infographics and to host joint office hours (pitching sessions) and the first to manage a coworking office space.
Meanwhile, Seedrs is a leading online investment platform. It allows investors to buy and sell shares in private companies, and ambitious entrepreneurs to gain investment for their businesses while building communities in the process. Founded in 2012, Seedrs has funded over 1,200 deals, with over £1 billion invested on the platform to date.