Octopus Ventures, the UK-based venture capital firm part of Octopus Group, launched a new £83m fund.
The fund plans to back the most promising companies from across its portfolio, providing additional growth capital that will allow entrepreneurs to scale their business.
The vehicle, which brought Octopus Ventures’ funds under management to over £1 billion, allows the team to invest between £250k and £20m in startups with the potential to disrupt their industries and change the world.
The launch coincides with a new strategy to focus on three key areas:
– The Future of Money, seeking pioneering entrepreneurs who want to improve the way society interacts with money and risk by building products that will transform payments, investments, markets and insurance.
– The Future of Health, backing the teams revolutionizing health and wellness through patient-driven medicine, clinical decision tools, digital health and disease prevention technologies.
– The Future of Industry, fFocused on edge technologies that will drive the next industrial revolution. These include advanced manufacturing, materials, Internet of Things, robotics and artificial intelligence, as well as those technologies which will keep a fully digitally connected society secure.
Led by Alliott Cole, CEO, Octopus Ventures has offices in New York, Shanghai and Singapore, which have been established to support portfolio companies as they expand internationally.