Hoxton Ventures, a London, UK-based early stage venture capital firm, closed its second fund.
Hoxton Ventures II L.P. received support from investors in the first fund, alongside commitments from new British, Swiss and U.S. institutional investors. New limited partners include British Patient Capital, the largest investor in U.K. venture capital.
The new early stage fund will build on the firm’s record of finding and investing in “unicorns,” which includes seed investments in Babylon Health, Darktrace and Deliveroo. The firm’s strategy is to continue to find European companies that can scale globally into large, category-defining leaders in newly forming industries.
Led by Hussein Kanji, Rob Kniaz, and Rob Ludwig, Hoxton typically invests between $500,000 and $5 million into pre-seed, seed and Series A stage companies, and follows its capital through the life of the company.
The firm focuses on leveraging its partners’ connections to the U.S. The fund expects most of its investments will target the U.S. market, either by opening offices in the U.S. or building a sales presence in the U.S.
The new fund began investing in early 2019 and has made 20 investments across a range of sectors, including seed investments in FabricNano, a next generation enzyme business, Fy!, a homewares marketplace, Kbox Global, a cloud kitchen business, Kheiron Medical, an artificial intelligence radiology startup, and Preply, an online education company.