MMC launches £100m Scale Up Fund to support long term partnerships

Author

MMC Ventures

20 November 2019

MMC has announced the £100 million MMC Scale Up Fund, which enables them to provide expansion capital to their later-stage portfolio companies.

The Scale Up Fund, coupled with their £52 million seed fund announced earlier this year, means MMC can invest across the full lifecycle of a business.

In the last twelve months, they have invested more than £100 million across the pre-seed, seed, series A and later stages in amounts ranging from £100,000 to £25 million, the largest investment from the Scale Up Fund to date.

Some of MMC’s investments include:

  • Signal AI: The media monitoring platform transforming how executives make sense of the information explosion.
  • Signal AI recently announced its $25 million series C round.
  • Gousto: The data business combating food waste and inspiring you to cook better meals.
  • Gousto’s recent £30 million funding round takes its total funds raised to over £100 million.
  • Lookiero: the online personal shopping service making it easier for you to stay in style.
  • MMC led the $19m funding round for the Bilbao-based business to expand into the UK.

The Scale Up Fund can also participate in secondary transactions, offering liquidity to early MMC and third-party investors. In this way, capital can flow back into the early-stage funding ecosystem while MMC takes a longer-term outlook.

MMC Managing Partner, Bruce Macfarlane says:

“2019 has been a big year for our firm and the launch of our new Scale Up Fund represents a scale up moment for MMC as well as a significant innovation in the UK venture market. This Fund allows us to double down on our most successful businesses while enabling our investors, and others, to take full or partial exits from early investments.

We will continue to focus on our core specialism as a series A investor, but I am delighted we can support entrepreneurs with funding through their lifecycle, from the very beginning, through growth, then later stage expansion capital.”

 

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