Octopus Ventures launches £83m startup growth fund
Venture capital firm Octopus Ventures has today launched a new £83m growth fund for startup companies.
Taking Octopus Ventures’ total funding to over £1bn, the new fund will allow the firm to invest between £250,000 and £20m in companies with the potential for growth.
Alliott Cole, CEO of Octopus Ventures, explained: “Today’s announcement means that we’re part of a small group of investors with the resources to support start-ups from inception all the way to international scale-up.”
Having already worked with businesses such as property platform Zoopla and holiday company Secret Escapes, Octopus Ventures is using the new growth fund to focus on startups with “the potential to disrupt their industries and change the world”.
The new fund coincides with a new investing strategy for Octopus Ventures that focuses on three key industries: money (payments, investments, markets and insurance); health (wellness, patient driven medicine, disease prevention technologies) and industry (artificial intelligence, robotics, the Internet of Things).
Alliott continued: “We back people we believe in, namely the pioneering entrepreneurs who are changing the world by disrupting industries. This is all about helping them grow their businesses faster and more effectively.
“We have always looked for new ways to support our founders and this latest fundraise will do just that – providing Octopus Ventures with the additional means to support the ambition and vision of the people that will change the world.”