UK - PROfounders Capital holds first close of new venture fund

The cornerstone investors in the fund are Michael Birch, the founder of Bebo and Birthday Alarm; Brent Hoberman, the founder of Lastminute.com and Mydeco; Peter Dubens, the founder of Oakley Capital and Freedom4 Group; and Jonathan Goodwin, the founder of LongAcre Partners.

The vehicle will invest in early-stage ventures focused on the new business models of digital media and technology. PROfounders will aim to fill the gap between angel and traditional venture funding.

Separately, PROfounders has just hired Sean Seton-Rogers as general partner of the firm. Seton-Rogers joins PROfounders from Balderton Capital, where he worked closely with companies such as Bebo, Wonga.com, MoveMe and TouchLocal.

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• UK / Ireland