Passion Capital opens third fund to retail investors through Seedrs

A portion of the £45m fund, which was launched in late 2017, will now be open to investors registered with and qualified by the Seedrs platform. Passion Capital has already made 11 new investments from Fund III, which Seedrs investors will automatically be part of, with a further 15-20 new investments expected to be made.

This is the first time a European crowdfunding platform has facilitated access to a private venture fund to the general public, Seedrs claimed in a statement.

Passion typically makes investments of £300,000-700,000 in seed-stage VC opportunities. To date, the manager has backed 81 early-stage startups over its three funds, including GoCardless and Monzo.

Wilshire recently acquired a stake in Passion Capital's first vehicle from existing LPs, Unquote reported. Passion Capital made 41 investments from the £37.5m fund and since the fund was entering its 10th year with only 15 exits to date, the manager launched a tender process in order to give existing LPs a liquidity option.

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