Episode 1, a London, UK-based software only early stage venture capital firm, closed its second tech fund at £60m.
LPs included British Business Bank, the UK government’s economic development bank, entrepreneurs, and new institutions including Draper Esprit and ADV.
The Enterprise Capital Fund (ECF) aims to lead seed-to-Series A rounds of £500k to £2m into teams with real insight into markets that are emerging or evolving.
Led by Simon Murdoch and Paul McNabb, Episode 1 is particularly interested in how emerging “deep technologies” such as AI are disrupting all industries and how technology is reinventing markets. Founded in 2013, the firm has built a portfolio of software businesses including CarWow, TouchSurgery, TripTease, Global App Testing, AimBrain and CloudNC.
Read Simon Murdoch’s post about the new fund here.