Fuel Ventures raises £20m
London-based VC firm Fuel Ventures has held a final close for its third fund on £20m.
The early-stage investment company was launched by Myvouchercodes founder Mark Pearson in 2014 and has invested its first two smaller funds in 20 businesses.
The fund gives 100% EIS tax relief to UK investors, according to a statement.
Investors
The fund was backed by high-net-worth individuals, family offices and strategic corporate investors that can support the portfolio companies with expansion into China, the Middle East and Europe.
Investments
Fuel Ventures will invest in early-stage software companies and online marketplaces. All of the portfolio companies will be based alongside the investment team in its London offices. It plans to make one investment per month.
People
Fuel Ventures – Mark Pearson (founder).
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