Timothy Farnell

"Funding Collapse sends investment in start-ups to six year low" The Times today covering the shocking stats that VenturePath uncovered, with our partner Beauhurst. Great quotes from supporters Michael Moore CEO, BVCA and Julian David CEO, techUK. * UK VC funding at Series A is -44% from last year, and worsening * Q3 24 is down a staggering 57% from Q2, itself down from Q1 * 9 in 10 seed funded startups cannot access Series A VC funding, the next 'rung on the funding ladder' * Just 32 future scaleup companies across the whole of the UK were able to access their first VC funding round in Q3...a 6 year low * Half a billion less capital is going in to UK scaleups at Series A, than just 2 years ago! As the UK scaleup funding gap widens, we are losing ground against other countries, at both startup stage (a position the UK worked hard to achieve, since 2011), and for scaleup support. OECD data: 13th in the world for scaleup support, and that's before Series A funding access dried up. I get that its confusing. Another report (BBB, Nations & Regions) released this week spoke of positive trends in private investment, stating "The data for Q2 2024 shows that investment value has continued to grow". Great, I love to see optimistic data. But under analysis that bundles venture with private equity (later stage), where a few megadeals skew the numbers. Otherwise the exact opposite is true. Our independent research here, for the UK ScaleUp Investment Mission, is laser beam focussed on Series A. The funding round where companies move from the c.1m startups launched each year, through the 2,179 that access seed funding, into the rarefied category of being recognised as future scaleups, attracting Series A funding (£2-10m). The UK venture landscape is currently funding just 248 pa of these companies, and declining. We've been sharing this urgent call for support with the new Government since the day after the election. I've personally met with several Ministers, and spoke to all the relevant Government departments. I will shamelessly repeat loudly what is at stake. UK scaleup funding at Series A has nearly halved in a year, and continues to decline steeply, more than halving in the last quarter. VenturePath developed The UK ScaleUp Investment Mission to convene the scaleup support ecosystem and £7bn of funders to help address this problem, to improve nationwide access to VC investment, and create more venture-backed successes. We have clear support, clear recommendations to reverse this decline in UK scaleup investment, and have made a clear ask of Government for participation in this, to ensure immediate action is taken to create the conditions for success for UK scaleups, ensuring the focus on growth isn't undermined by lack of capital, or equitable access to it. Government decision makers, we'd love your interest, to progress to action. HM Treasury: Rt Hon Rachel Reeves Spencer Livermore James Murray & CC Poppy Gustafsson (welcome to the debate).

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We had the pleasure of speaking to the inimitable Gordon Sanghera, co-founder and CEO of Oxford Nanopore Technologies, valued at around $6.8bn in 2021. Gordon somewhat accidentally ended up as an entrepreneur, breaking the conventional VC wisdom around 'born founders'. The technology is wild - democratising access to genomic sequencing giving us a new understanding of living organisms. In the episode of Riding Unicorns, we cover: 00:00 Defining Entrepreneurship 00:55 Understanding Oxford Nanopore's Technology 06:10 Gordon's Journey to Founding Oxford Nanopore 12:09 Commercialization Challenges and Strategies 16:27 Building a Strong Founding Team 20:55 Navigating the Ups and Downs of Deep Tech 25:54 Innovative Applications of Nanopore Technology 28:57 Company Culture and Operational Insights 35:05 Attracting Talent in a Competitive Market 37:22 The IPO Experience and Future Outlook https://lnkd.in/eQZVSGeK

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Want a deeper glimpse into how people are feeling in the run-up to the UK elections? 🇬🇧 This whitepaper reveals the real human emotions behind the numbers. 🔍 Using Prolific’s pool of 200k+ participants and Voiceform's #AI technology, this poll captures authentic responses on a range of key political issues. It’s got extensive insights into how the UK truly feels about: * The current Conservative Party leadership under Rishi Sunak. * Keir Starmer’s opposition Labour Party and its changing direction. * Which policies and themes register as most critical for voters. * What it could take to sway voting intentions at this stage. You can download the full whitepaper here: https://lnkd.in/e9qSTQQd #UKgeneralelection #PoliticalInsights #UKPolitics

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I couldn’t be prouder to be a Venture Partner at Isomer Capital (aka the best European FoF - at least for me) as we just announced the launch of our pioneering £100m secondaries fund. This fund is dedicated to acquiring stakes from LPs in various VC funds, tapping into a massive and largely unexplored market. 🌟 Key Highlights: - Focused Investment: Primarily targeting stakes in VC funds, with selective investments in private companies. - Robust Funding: Already over 20% funded, thanks to strong support from Nordic family offices and a German foundation. - Market Potential: With a growing number of private tech companies and a VC liquidity crunch, Europe's VC secondaries market is poised for rapid growth. - Track Record: This isn’t Isomer’s first foray into the secondaries market. As a firm we’ve done several secondaries deals with portfolio companies and VC firms, including early-stage VC Seedcamp (in 2021) and mobility giant Bolt (in 2023). - Expert Team: Welcoming the amazing Omolade (Rachel) A., formerly of Coller Capital, as a principal to lead this initiative. 💡 Investment Strategy: - 65-75% of the fund will buy "LP interest" stakes in VC funds. - 15-25% will be directed towards stakes in companies. - Up to 15% reserved for flexible investment opportunities. 📈 Looking Ahead: We're targeting returns of 2-3x, with significant distributions expected in the next 4-7 years. As one of the few players in this space, we're not just participating in the market—we're driving it forward. Read all about it here: https://lnkd.in/dc7sbC3G #VentureCapital #SecondariesFund #EuropeanVC

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Today we announce that we have successfully raised £20million to invest in scientific startups developing breakthrough solutions for deep decarbonisation. I joined Zero Carbon Capital in August '22 and it has been incredible! I happily spend my time talking to bold and intelligent entrepreneurs, searching for high impact investment opportunities, learning about industry sectors and technologies areas, and supporting our awesome portfolio companies in their long road ahead. I feel so grateful that my job is hopeful in the midst of a climate and environmental crisis. That I get to focus on solutions and be pro-active in finding and supporting the technologies, processes, products that could take chunks out of global greenhouse emissions and get us on track to a net zero 2050. Most of all, I have found my people. What better way to spend my days than with a team of super smart, mega determined people who care about the same things that I do! Chloe Coates, Max Werny, Alex Gawley - what a joy! And Pippa Gawley - for all that and for your leadership. Your leadership in a historically male dominated VC industry is a beacon. And this extends to the whole ClimateTech ecosystem - it energises me to work in a sector of like-minded people, passionate about the work we do. The conversations, exchanges, brainstorming make the job even richer! Let's keep going! Hold on to the vision for 2050 - a healthy planet! Our goals are achievable! https://lnkd.in/erWfvwz2

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📢 It's great to see the Department for Science, Innovation and Technology launch the new Regulatory Innovation Office today - something we've long campaigned for at Form Ventures through our #fixtheregulators campaign (recap: fixtheregulators.com). But.... 🚨... as my colleague Andrew Bennett told the Financial Times this morning (👇), the RIO will only make the impact we need if it has two key ingredients: political backing - proper ministerial and PM-level buy-in; and financial backing from HMT. It remains to be seen if we have either, both, or neither. 🧪 One other point: the focus on novel tech is great, and important, but regulation can be an enabler of innovation across existing regulated markets too, where tech is moving the frontier of what's possible - and if anything, the quicker political and growth wins are found here.

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Great to see SIS Ventures make this list by TechRound https://lnkd.in/eDtRbggM A bit more about what we look for below. If you're a founder and these hit the mark 👇 then please get in touch Investment targets SIS Ventures is focused on high-impact, high-growth potential businesses our investee companies are innovation-led, often spun out of Scotland’s leading university innovation programmes. Portfolio companies are also carefully selected for their commitment to developing their environmental, equality and diversity, social impact and governance practices. SIS Ventures seeks to provide equity investment to: ✔ High growth potential with a global scale and intent to provide significant impact ✔ Focus on social and/or environmental impact, aligning with impact themes / at least one of the UN SDGs ✔ Product or service backed by defensible technology or proprietary know-how ✔ EIS or SEIS qualifying ✔ Low capital-intensive businesses ✔ Sector agnostic, but historically invested across Life Sciences, MedTech, Climate Tech, Circular Economy, Biotech ✔ Pre-seed – Series A ✔ Headquartered in Scotland

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Thrilled to lead $4.8M Seed round in GlassFlow, a radically simple approach to streaming data infra. Check out our blog post to learn more: https://lnkd.in/gg9CzXfd Streaming infra has become an essential piece of infrastructure for the largest companies in the world (Kafka alone is in use at over 80% of the Fortune 100) but still carries substantial ops burden and a high learning curve. One engineer we spoke to recently remarked that whenever they think about “using something like Kafka”, they get scared. Suffice to say, the last generation of big data infra warrants a rethink for teams that don’t have extremely high volumes of data. The Glassflow approach is radically simple: serverless infra + python API for publishing, subscribing and reacting to real time events. It’s simple yet robust for the needs of most companies doing real-time stream processing. Armend and Ashish have lived this problem first-hand and have made it their life’s work to bring simplicity to the world of streaming infra. Peter and I are thrilled to partner with them and add to the growing Upfront Ventures portfolio of European dev tools / infra founders!

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The article outlines five critical priorities for the UK government to support SMEs better: improving access to finance, enhancing digital infrastructure, reducing regulatory burdens, fostering innovation, and expanding international trade opportunities. These actions are essential in empowering SMEs, the backbone of the economy, to thrive in a competitive and rapidly evolving market. The government can help SMEs overcome challenges, drive economic growth, and create more resilient and sustainable businesses by addressing these key areas.

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Welcome to the club! At Antler, we are proud to announce that we have just invested over £1m into nine new British tech startups. Our tenth residency in the UK attracted more than 1,100 ambitious founders, with 66 founders taking part. Representing 27 different nationalities, with women comprising 24% of the cohort, it was truly a diverse group of amazing people. Spending 10 weeks with us allowed us to undertake over 200+ hours of due diligence, helping us make high-conviction investment decisions, in which we end up investing in 1% of all applicants. We are delighted to welcome the following eight startups to Antler’s portfolio, and we’re excited to be on this journey with you! ⚙️ AlphaLoops - Automating investment management operations using AI ⚠️ BankBridge - Bridging the due diligence gap between financial institutions 🔎 Capsa AI - AI Operating System For Private Equity 📝 Falco - powered platform that empowers financial firms to identify and translate regulatory changes into actionable insights 🚚 Fleevo - The AI-driven Operating System for Modern Commercial Fleets. Driving Efficiency, Uptime, and Sustainability 🛍️ frnt - Optimising retail operations with digital workers 🎯 Intriq - Transforming businesses with the power of AI through the use of private equity playbook strategies 🦾 RoboMinder - Elevating industrial robot uptime with AI-powered computer vision In addition, Antler has made one seed investment in the first quarter of 2024, into a tech startup that is currently in stealth mode. Check out the press release in the comments section! #VentureCapital #Investments #Founders #TechStartups

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🌟 AI is Revolutionising Business: Insights from the E2E Dynamic Track 100 Launch. The E2E Dynamic Track 100, spotlighting the UK’s fastest-growing private companies, launched with a powerful panel discussion on AI’s transformative impact. Industry leaders shared how AI is reshaping sectors: 💼 Brightsun Travel is enhancing customer choice and streamlining bookings. 🚗 Vizion Network is leveraging AI to boost efficiency and eliminate repetitive tasks. 💱 Universal Partners is integrating AI into forex systems for cutting-edge solutions. Howard Leigh of Cavendish Corporate Finance predicted AI would create new opportunities while improving work-life balance in finance. Chris Blackhurst has written an amazing piece in The Independent to read more click the link below. https://lnkd.in/gHB2rH8w Congratulations to the top E2E100 dynamic businesses driving the future of UK enterprise! 🚀 #AI #Innovation #E2EDynamicTrack100 #Entrepreneurship #E2E #BusinessGrowth

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Last week, the ‘CAIO Collective’ caught up in central London for an event that was anything but ordinary. Since last month’s meetup with our Business Safari through Big Data LDN, we’ve welcomed a further seventeen in person members and over 60 virtual members!  So… this was a gathering of some of the sharpest minds in AI leadership all focused on navigating the increasingly complex landscape of driving real value from artificial intelligence and its real-world applications. This session came at a critical time, as the sector grapples with new regulations, ethical considerations, and the rapid pace of technological advancement and this meant a packed agenda. By strong demand, we pushed the AI talent, learning, and development into December’s meetup using the time instead to focus on this month’s hot topic… the European AI Act (AIA). So… the AIA was at the forefront of our discussions this time around. Its impact on the industry is set to be profound, but not without some controversy. While many welcomed the Act’s intent to enforce transparency, fairness and accountability, there was a fervent shared concern about its potential to curb innovation. This was especially the case for small and medium enterprises. For many in the Collective, this regulation represents a call to action. It’s not just about compliance; it’s about demonstrating how responsible AI can genuinely thrive under a robust framework. The debate also touched on the strategic importance of engaging with policymakers early and ensuring that the voices of practitioners who understand AI’s real-world complexities are really heard. Another focal point was the rise of AI-powered decision-making systems. From dynamic supply chain optimisation to real-time fraud detection, AI’s ability to handle complex decision-making processes is driving a new wave of operational efficiency across industries. However, it’s not without its challenges. Many organisations are grappling with how to deploy these systems at scale while ensuring transparency and maintaining a human in the loop oversight. The discussion highlighted that successful AI deployment isn’t just about technology; it’s about building trust - both within organisations and with their customers. The event was not just a forum for discussion but a call to action. The Collective is dedicated to shaping the future of AI by building frameworks that are ethical, strategic and sustainable. If you’re a Chief AI Officer or in AI leadership and want to engage with a community that’s on the cutting edge of these issues, we’d love to have you join us. Our next gathering is provisionally scheduled for 4 December at The Century Club, where we’ll dive into the critical topic of talent, learning, and development in AI - a key factor in sustaining the industry’s momentum. #CAIOCollective #ChiefAIOfficer #EUAIAct #AIRegulation #AILeadership #EthicalAI #DataGovernance #AIinBusiness #ChathamHouseRules

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Great to speak at Alma College: Lessons on Due Diligence today alongside the fantastic Rupa Ganatra Popat of Arāya Ventures. This is one of a series of events run by Alma Angels to help angel investors who want to learn more about investing. If you are an angel investor interested in supporting female founders, please check out Alma. Link in comments shortly. #founders #startups #venturecapital #buildinginpublic #investinginpublic More at unbundled dot vc.

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We are very delighted to announce the launch of The Mills Fabrica's 2023 Impact Report ! Outlining our innovation framework, the Impact Report is a vital gateway that gives access to the public and audiences a thorough guide on how we structure our impact and innovation landscape across our diverse business streams, ranging from our VC investment fund, startups incubation program, global innovation challenge program and partnerships, all the while embedding sustainability metrics for impact evaluation. As we strive towards creating a more sustainable future spanning across both #Techstyle and #Agrifood tracks, we are leveraging our resources and network to cultivate a more sustainable and promising future on all fronts, with our best efforts. Download the Impact Report here: https://bit.ly/3XzmbB0 #TheMillsFabrica #NanFungGroup #Techstyle #Agrifood #Innovations

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It's been interesting over the past couple of weeks to step back and reflect on the themes that have emerged from our early Assembly Ventures portfolio. In particular, we've taken a look at investments through the lens of the United Nations Sustainable Development Goals. These targets may seem squishy to some, but in my view, also align with a laser focus on business results. Not buying the argument yet? Affordable and Clean Energy (SDG 7): We've invested in Our Next Energy (ONE), commercializing technology that drives the adoption of clean energy solutions, such as grid storage and electric vehicle batteries. Industry, Innovation, and Infrastructure (SDG 9): Our Mobility 4.0 framework embodies our commitment to revolutionizing the digital and physical infrastructure layers that underpin future mobility systems. Integration can create systems that are not only efficient but also sustainable and scalable. This unusual holistic approach ensures that our investments support resilient and innovative industrial ecosystems. Responsible Consumption and Production (SDG 12): We invest in and support startups that leverage AI, data analytics, and advanced sensors to drive profitability and sustainability at industrial scale. Companies like Sortera Technologies, Inc. create true material circularity through innovative recycling technologies, thereby reducing waste and fostering a circular economy. This is about more than a feel-good impact. We're talking about real financial returns, industrial resilience, and economic security for the western world. #VentureCapital #CleanEnergy #Innovation #Sustainability

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NOTWICS would like to alert founders to this lovely message I got from my good mate Tom Britton @ SyndicateRoom This excellent Cambridge based pre-seed and seed stage VC is looking for top founders and hopefully this is the first of many funds ringing the bell saying they are now deploying 💥 - akin to top man Dan Bowyer’s LP post yesterday. The winds of change are coming - funding is coming back From Tom “Hey Chris - We've partnered with Carbon13 to launch their next Climatech SEIS fund. The fund will open to investors on Tuesday and aims to deploy in the current tax year. And on Carbon 13 Carbon13 companies have gone on to raise up-rounds totalling more than £38m. The average age of their cohort participants is 37, a quarter hold PhDs and 63% of their teams are mixed gender”. Their portfolio now has 71 ventures across five key sectors: chemicals and materials, energy, food systems, enabling platforms and the built environment. Founders find out more here and get applying https://lnkd.in/es6EvuN5 Or Direct Message Tom for more Apologies for spelling mistakes - rushing to host a huge defence tech breakfast with FieldHouse Associates and others #startups #scaleups #vc #angel

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When Fossil Fuel Free Isn’t Free (Greenwashing Example) Matt Patsky exposes the dangers of greenwashing in ESG investing. As CEO and Lead Portfolio Manager at Trillium, Matt has firsthand experience navigating the challenges of authenticity in sustainable finance. He was also one of the insightful voices featured in my book, Sustainable and Responsible Investing 360: Lessons Learned from World-Class Investors. 🎧 This week, I’m revisiting the book and sharing three key chapters to help you identify true impact investments and avoid the pitfalls of misleading marketing. Tune in: 👉 https://lnkd.in/e4YbwSRG #SRI360 #ImpactInvesting #SustainableInvesting #SRI #Sustainability #EnvironmentalImpact #SocialChange #SocialImpact #ScottArnell

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✨ Resilience Advent Calendar - Day 5 💪 Christmas Eve and our last quote from a top investor: Rana Yared — General Partner, Balderton Capital Resilience is having the interstrength — mental and bodily — to withstand and recover from stressful moments. Resilience is trained not innate so each of us can take steps to make ourselves more resilient. Want to check out the other quotes, read them here: https://lnkd.in/eWfYjdDn

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What an honor to be part of VC Include's annual #IncludeImpactConference last week and to represent the Heading for Change team in kicking off the launch of the #FundFundamentals program! 🎉 We’re incredibly proud to sponsor and support this important initiative. The day was packed with so many highlights (huge shoutout to Bahiyah Yasmeen Robinson, Milton Speid, and the entire VC Include team for pulling off a truly incredible gathering!), but a few personal favorites stood out: ✨ Speaking on a panel with the brilliant La Keisha Landrum Pierre, Charlotte N., and Nina Sharma about shifting paradigms in investor identity—a conversation that felt both deeply personal and universally resonant, highlighting the immense opportunity and urgency of transforming today's investor landscape. ✨ Listening to fellow LPs share their insights on investing in emerging, diverse managers, and learning from friends and co-investors like Stardust about rethinking diligence processes and developing creative ways to help GPs access critical operating capital. ✨ Exploring innovative ways to unlock the 𝗵𝘂𝗻𝗱𝗿𝗲𝗱𝘀 𝗼𝗳 𝗯𝗶𝗹𝗹𝗶𝗼𝗻𝘀 sitting in DAFs to de-risk investments, back diverse managers, and support innovative financing models. ✨ Meeting one-on-one with passionate, first-time GPs tackling everything from climate change to maternal health—leaders betting on underestimated founders who are closest to the issues they’re solving. Lastly, if you or someone you know is considering launching a fund, apply to Fund Fundamentals today! This program offers tangible tools and resources for women #FutureFundManagers who want to start their own funds, and we couldn’t be more excited to be part of their journey! 🙌 https://lnkd.in/g2rfscWS #IIC24 #emergingmanagers #diversityinVC #womeninVC #VCI

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