Forward Partners closes second fund on £60m with single LP

The total raised is considerably more than the £21m raised by the VC for its maiden vehicle.

The announcement comes nine months after the VC appointed former Oxford Capital investment director Martyn Holman as investment partner.

Investors
A spokesperson for the VC told unquote" the fund has only one LP, described as a "major institutional investor". However, technology publication TechCrunch reports the LP is not part of Forward Partners' investment committee and that the new vehicle will be a fully independent entity.

Investments
Forward Partners makes seed-stage investments in UK technology startups. The firm has previously invested in e-commerce companies, crowdfunding platforms, online booking platforms and digital media companies.

The spokesperson told unquote" a large proportion of the vehicle will be reserved for follow-on funding rounds for existing portfolio companies. It will look to make more than 30 investments over a four-year period.

The VC has made 34 investments to date, most recently taking part in an Oxford Capital-led $1.8m funding round for fashion technology business Spoke.

People
Forward Partners – Nic Brisbourne (founding partner); Martyn Holman (investment partner); Dharmesh Raithatha (product partner).

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