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.
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.