MMC Ventures, a London, UK-based research-led venture capital firm, launched a new £100m scale up fund.
The Scale Up Fund, which was raised from institutional investors, will provide primary capital to current portfolio companies that have grown beyond the mandate of MMC Ventures’ existing funds. It 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.
The fund has already made investments into:
– Safeguard Global (alongside Accel KKR),
– Masabi (alongside Smedvig Capital), and
– Interactive Investor.
MMC has raised £200m in the last 12 months and, in the same period, has invested £100 million across the pre-seed, seed, series A and later stages in amounts ranging from £100,000 to £25 million.
Examples include the recent investment in environmental management platform, Qflow, where MMC followed lead investor, Pi Labs, in a £750,000 seed round, through to leading a $19 million round for Lookiero, the Bilbao-based fashion retail brand.