Venture capital investor MMC Ventures has launched a new £11m fund focused on investment in London businesses.
The MMC London Fund, which will co-invest alongside other venture capital firms, business angels and other MMC funds, is partly financed by a grant from the European Regional Development Fund.
The vehicle provides funding for early stage businesses in London’s most important strategic business sectors, including financial services; creative industries; the digital economy; leisure; education; and healthcare.
The MMC London Fund has already completed 5 investments including Masabi, LoveHomeSwap and MBA & Company.
The other 2 will be disclosed soon.
Founded in 2000 and led by Bruce Macfarlane, Managing Partner, MMC Ventures focuses on technology-enabled sectors such as financial and business services, business software, digital media and e-commerce. Its existing portfolio includes AlexandAlexa, Base79, Interactive Investor, Knowledge Mill, LoveHomeSwap, Reevoo, The Practice, NewVoiceMedia, Tyres on the Drive, Masabi, Consilium, Safeguard, Creativity, iJento, Neoss, Breathing Buildings and Small World.
FinSMEs
08/04/2013