Will Dean MBE

"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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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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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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Goodbye to another year! Year 1 for VenturePath - the UK's ScaleUp Investment Partner, was all about building the foundations, the content, the #proposition. Year 2 for VenturePath ('24) was all about strengthening the community, building nationwide #partnerships and informing the new Government about the difficulties of scaleups accessing Series A-B funding. Year 3 for VenturePath ('25) will focus on #investment; bringing all of this work together to create more venture-backed successes... We've worked at scale with 300 companies advising on their scaleup and investment plans - the founders we've supported have won awards this year for Fastest Growing Technology, International Pathmaker, Innovation Entrepreneur of the Year etc etc. We've collaborated with partners and friends including Great British Entrepreneur Awards & Community, SME-XPO, Barclays Eagle Labs, Plexal, WeWork, Marriott Harrison, Beavis Morgan LLP, and on the UK ScaleUp Investment Mission with British Business Bank, Innovate UK, techUK, British Private Equity & Venture Capital Association (BVCA), UK Business Angels Association, Startup Coalition, Capital Enterprise, UK Fast Growth Index, Kingsley Napley, Tech London Advocates & Global Tech Advocates, and proudly received recognition from Foundervine for our work catalysing change through improving access to scaleup investment, for founders from all backgrounds. #New - 3 big announcements in the New year; stay close for news on New and structural scaleup readiness support, New team members and New investment vehicles. Here's hoping you enjoy your 2025 as much as we plan to! Happy New Year.

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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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As a Partner at Antler, one of the most active early-stage investors in the world, I’m thrilled to announce our latest round of investments—£840k across seven exciting new British startups! The eleventh UK residency brought together over 2,400 applicants from across the globe, with 78 founders making the cut. This group reflects incredible diversity, representing 24 nationalities and 18% female founders. After a rigorous selection process that included over 200 hours of due diligence per company, we’re backing just under 1% of applicants, confident in the impact they’ll have. Here are the seven ventures joining the Antler family: 🔎 Vente AI: Changing the recruitment game by automating how agencies discover roles and optimize their candidate pipelines. 💡Distillery: Unlocking rapid insights for businesses, providing crucial product and marketing data 25x faster than traditional methods. (Vasil Yakov, Edward Louth) 🏦 Banqora: Uses AI to automate document processing and streamline post-trade operations, saving financial institutions significant time and money. 🏠 AskVinny: Simplifying property management with AI, making tenant-landlord interactions effortless and improving service delivery. 🪲 Omma: Supporting sustainable farming with AI-driven insect incubation, reducing the need for pesticides in large-scale horticulture. 🧑‍🏭️ Tradestack: Helping trades businesses quote quicker and win more jobs with an AI-backed productivity tool. 🏨 Inntelo AI: Transforming hotel operations with AI that automates guest services, making every stay smoother and more personalized. With some of them already speaking to follow-on investors and closing investment rounds, I’m personally excited about what lies ahead for them all. If you’d like to connect with any of the founders or learn more, drop me a message! 🚀 🦄 #VentureCapital #Investments #Founders #TechStartups

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Lots of activity in the Media for Equity space in this autumn, and just in the last two days we have had some great news, one coming from the UK and second from Australia. 🫡 dmg ventures has announced the launch of their new fund with 50M GBP in cash capital, as well as their traditional media credits. They plan to invest into European as well as US-based startups, from two separate funds: "The Headline Fund will target startups between seed and series A, while the second, the Scale Fund, is for more established startups. The Scale Fund has already made two investments, into Trip, a UK maker of sparkling drinks that contain CBD, and Blue Stripes, which makes cacao-based products by reusing the fruit that is wasted by the chocolate industry." - Global Corporate Venturing The second announcement is coming from the Scaleup Mediafund, "backed by investors including News Corp Australia, NOVA Entertainment, Foxtel Group, REA Group, and oOh! Media and has committed over $45 million in advertising and marketing inventory to support the Australia's startup ecosystem. The two new investments are, Naked Life, a non-alcoholic cocktail drinks business, and Settle Easy, an online property conveyancing platform. 💪 These are great news for the media for equity, media capital, media credits or may you call it media investments, and great new set of proof points for the investment model. #MediaForEquity #MediaCapital #MediaCredit #MediaInvestments cc: Flavius Floare Borderbridge

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Slow down in Venture across the board in Emerging Markets! As predicted, VC funding and deal flow continues to decline across the Middle East, Arica and South East Asia. If you haven’t yet had the chance to access MAGNiTT's latest report on Q1 figures, then this article might just be for you: https://lnkd.in/duwpEqf7 My two cents based on MAGNiTT’s data: 1. Venture funding to remain flat until the US FED decreases interest rates (which I don't see happening before Q4 if at all) 2. Dry powder is available as funds make announcements regionally...but raising funds and deploying takes time. Unlikely to translate into active investments before Q4’24-Q1’25 3. Deal activity in SEA and MENA likely to converge at some point in line with global trends (CB Insights 8th consecutive decline in funding globally!) 4. Underdog industries might see some investment with healthcare, and energy, to report increases in YoY deal flow while star industries like FinTech and e-commerce may decline With VC funding looking more and more baron, and a continued focus on early stage over late stage, start up founders will need to remain vigilant and frugal. Interesting to see how Emerging Ecosystems will develop in the coming quarters with seasonal lulls and international interest. You can forecast and benchmark quarterly investment activities across countries and regions using our analytics tool accessible via subscription: https://lnkd.in/d2J6TdYQ #VentureCapital #EmergingMarkets #MENA #InvestmentTrends #Entrepreneurship

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Own part of Disco. Disco is revolutionising music discovery. If you’re bored of playing the same old songs and fed up of the music app algorithms recommending you what you’ve already been playing, then Disco is for you. After raising our pre-seed round at the end of 2023, Disco is now about to launch its seed round on Crowdcube (who’d have thought?!). Sign up now for our waitlist and get priority access to guarantee your shares.  https://lnkd.in/e_zmumTJ Crowdcube Risk Warning: Please don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment.

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That will be great! Lots of discoveries... many of them which they discovered through PDIE Group as official nominator. Since the beginning of The Earthshot Prize, we have been screening global markets for the best in class solutions and nominated them. HRH Prince William is the president and founder of the award together with Sir David Attenborough. We have nominated around 300 solutions since 2020 and had 7 finalists and 2 winners which makes us the No1 nominator. It is fascinating to look at innovation which can fix the planet, fix our environmental crises! I have a passion for this and will keep on doing it even if the hope seems to be gone. I know that we can do it. There is "urgent optimism" in the air. We live in a VUCA world and things are seemingly deteriorating. In this world, we need to stay calm and focused and do what we came to do. That is why we need #purpose and #determination 2025 will be a year of breakthroughs, a year of new pathways for you and for everyone who wishes to break through. Let us fix the crises... Co-create a better tomorrow now. #pdiegroup #earthshot2025 #royalmission #sustainability #purposedriven #newenergy #deeptech #climatecrisis

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The UK was early into Digital and early into Remote Work. It has an opportunity as a system to go all-in on the AI revolution, which will encompass those and more. Every business needs to think about and act on the AI opportunity. Great to see early action from the new government on this front, building on initial momentum from the prior one. The future of UK is AI

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Thank you to everyone who joined us for an insightful roundtable discussion yesterday in partnership with the UK Space Agency 🌟 🛰 We had an inspiring conversation on the unique challenges and opportunities faced by UK space SMEs as they move from early-stage growth to commercialisation. Together, we delved into the critical gap in support that emerging space companies experience as they transition beyond early-stage funding, and discussed the actionable ways to bridge it. Key themes included: 👉 The barriers to scaling for space SMEs and how the support landscape evolves as the industry matures 👉 Current UK financial support mechanisms that foster growth and attract investment, as well as potential new tools to further strengthen the ecosystem 👉 Opportunities for collaboration between UKSA, the investment community, and SMEs to ensure sustained support through Series A+ funding and beyond Thank you again to all our participants for their contributions to this important dialogue 🚀 Lydia Green – Lead Unlocking Space, UK Space Agency Sofia Chaves – Senior Project Officer Unlocking Space for Investment, UK Space Agency Lucas Bishop – Associate, Seraphim Space Sanjeev Gordhan – General Partner, Type One Ventures Shruti Iyengar – Investment Manager, Future Planet Capital Anatolii Papulov – CEO and Founder, NewOrbit Space Martin Philip – Director, Open Cosmos Patrick Zaitouni – Chief Strategy Officer, HawkEye 360 Steve Young – President of Satellite Missions, ICEYE David Ford – Partner, Silverpeak Julian Tsio – Director, Lazard Edmund Phillips – Senior Investment Partner, NSSIF Nigel Fox FCA – Chief Finance Officer, ALL.SPACE

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🚀 Resurge Growth Partners Launches €120M "Venture Equity" Fund to Rescue VC Orphans In a unique move to address a growing gap in the venture landscape, London-based Resurge Growth Partners has launched a €120M investment vehicle to acquire and revitalize "VC orphans" — portfolio companies with strong foundations but stagnant growth, too mature for VC attention yet not developed enough for private equity buyers. This emerging category is what Resurge is calling “venture equity,” a blend between private equity (PE) and traditional venture capital (VC). 🔍 The Opportunity in Overlooked Potential The strategy, led by cofounders Oren Peleg and Eyal Malinger, seeks out companies with at least €7-8M in annual revenue, providing €10M-25M in funding per acquisition. For these businesses, Resurge's support can mean new life: they’re often high-potential but constrained by the “draconian” terms of venture debt that founders might not fully anticipate, believing growth will allow them to refinance. Now, Resurge aims to step in where traditional VC support has faded, providing operational guidance and financial backing to restore momentum. 🌱 Ad-hoc Investor Strategy To reach the fund’s €120M target, Resurge has already secured nearly half of its goal through a family office and GP commitments from the cofounders. The remaining funds will be raised deal-by-deal, allowing flexibility to adapt capital needs to each unique opportunity. This approach reflects a refreshing innovation in the ecosystem, supporting founders whose companies are stuck in limbo — often high-performing in revenue but under-supported by VC. Could Resurge's "venture equity" be the solution that many stagnating startups need to unlock their next growth phase? #venturecapital #startupinvestments #startup

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🔥 Highlighting 27 Family Offices Investing In UK Startups At Scaling Stage! 🔥 Behind countless successful startups are visionary family offices, guiding and nurturing them to new heights. Today, it's not just about recognition but a heartfelt salute to these 27 family offices making significant investments in the UK startup ecosystem. These leaders are setting the standard for impactful investments and driving growth in various domains. It's inspiring to see their dedication to fostering sustainability and innovation. 1. Anthony Lyall, Lyall Ventures 2. Alex Loudon, Rushworth Investments 3. Neil Hutchinson, NEON Adventures 4. Dan Adler, D Squared Capital (DSQ) 5. Alex V, Mash VC 6. Pierre-Edouard Stérin, Otium 7. Stephen Diggle, Vulpes Investment Management 8. Cindy Mihalova, Ligo Partners Family Office 9. Shahzaib Khan, CFA, CMA, FCA, Kassam Investments LLC 10. Daniel Recanati, Rhodium 12. Riaz Mamdani, Strategic Group 13. Ariane SOLAL-DARMON, iVESTA Family Office 14. Polo Villaamil, Villaamil & Cia 15. Luis d'Amato, Aston Capital Management LLC Management 17. Wissam ADLI, Early Capital Group 18. Francisco Gonzalez, POLIGONO CAPITAL 19. Derrick Hunter, Bluesky Equities 20. Federico Bosetti, Alecla7 21. Henna Pihlman, Stephen Industries 22. Ján Kasper, PhD., MBA, PhD., ZAKA VC 23. Eduard Meijer,, Navus Ventures 24. Riaz Mamdani, Aezist 25. Vladyslav Nyshcheta, 1 4 All Group 26. Volodymyr Kryvko, CIG 27. Dr. Alexander Jais, YAP Capital Their commitment to diversity and impactful investing is paving the way for a more inclusive and sustainable future. 🚀 How do you see the role of family offices evolving in the sustainable investment landscape? Share your thoughts! Edit: this data was sourced via OpenVC. Investor profiles on our platform which are non-verified are on open data so anyone can edit investment thesis, stages of investment etc (think wikipédia for investors). Investors can sign up for free to get their profile verified and thus can edit this info themselves (and receive qualified dealflow if they want). Lucas Roquilly for any questions.

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Its's a deal flow time! We are about to share the details of 637 start-ups who joined Rare Founders London's largest #demoday 2 weeks ago with all the investors (only verified ones) in our community. If you are a #founder who is #fundraising and want to get more exposure to investors (IT'S FREE) - submit your details following the link in comments. If you are an #investor interested in pre-seed to series A start-ups join our community (link in comments) to get access access to the monthly deal flow. Please tag #investors and #founders who this might be applicable for.

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I'm excited to let you all know about an upcoming webinar I am hosting with top UK VCs on the topic of giving yourself the best chance of raising a Series A 🙌 Off the back of the benchmarking report I published for Episode 1 Ventures "The Definitive Guide to Raising a Series A in the UK in 2024", I will be joined by the following to discuss some key trends and topics: Simon Murdoch - Managing Partner at Episode 1 Laura McGinnis - Principle at Balderton Capital Nelly Markova - Partner at Molten Ventures Sasha Vidiborskiy - Partner at Atomico Among other things, come find out: - What are the critical metrics you need to hit? - How fast should you be growing? - How should you think about retention? - How do funds think about product-market-fit? - How should you think about competition? - And how mature does your GTM function need to be? Raising your Series A is tough, only 1 in 5 Seed-backed companies make it. Join me on Monday 13th May at 5pm UK time to help give yourself the best chance of a successful raise. Link to sign up in the comments below along with a link to the report... Thanks to OrbitalX for managing the webinar!

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