Mercuri (formerly GMG Ventures), a London, UK-based early stage media technology investor, raised a second fund of £50m from institutional investors.
This included a cornerstone investment from the British Business Bank, through its Enterprise Capital Funds (ECF) programme and a new diversified LP base, including several blue chip strategic investors – including The Scott Trust.
Applying the team’s sector expertise at the intersection of media and technology, the new fund will back founders of UK-based startups that are reinventing traditional media models using artificial intelligence.
Led by Alan Hudson, Founding General Partner, Mercuri plans to lead seed stage investments using its knowledge of emerging trends to back technology-enabled products for the new age of enterprise and the digital lifestyle of consumers. The fund’s sector focus spans four specific areas – the creation, distribution, consumption, and monetisation of content and data, with a focus on startups that enhance communication and engage in a professional and personal context, using AI.
FinSMEs
04/07/2023