Brent Hoberman launches new $85M pan-European seed fund, firstminute capital


Back in Jun Brent Hoberman, who famously founded and floated Lastminute.com, denounced his new investment car . The initial $60m tighten for ‘firstminute Capital’ was announced afterwards with Atomico being a cornerstone investor. The account was also corroborated by 28 unicorns founders. In a end, it incited out to be oversubscribed and they can now announce a second tighten for a fund. This has brought in a outrageous China-based company, Tencent. The new sum of a account announced currently is $85m.

The new pan-European seed account is co-founded by Brent Hoberman and Spencer Crawley will demeanour to deposit between $250 – 750k in early theatre record businesses opposite Europe.

The account is a shot in a arm for a UK now flattering punch-drunk from bad news about Brexit. It’s also surprising to have captivated Chinese collateral to both firstminute and Founders Factory, Hoberman’s corporate accelerator venture.

In a matter a orator said: “We generally like industries of a future: Medtech, fintech,robotics, govtech,and startups with clever SAAS, data, AI focus. We are cousins with Founders Forum and a subsidiaries. We also have identical birthright to Founders Factory. The account will strengthen a purpose during a heart of early theatre tellurian tech and how it gets is oxygen from super angels, sequence entrepreneurs, and vital tellurian corporates.

Brent Hoberman, Executive Chairman, firstminute capital, said: “We trust that rising European record startups will continue to excite, and build on a movement that has seen 47 unicorn companies built in Europe in a final 10 years. We wish to assistance a subsequent era of tip entrepreneurs, both with a strech and by giving them credit and support. We will deposit not only in a UK, though opposite Europe. We directed to lift $60m for a initial fund, and are happy to have achieved that and sealed oversubscribed during $85m, that we see as a clever vigilance for European technology. We trust a account represents an forlorn resources of imagination to broach on this promise.”

Niklas Zennström, Partner and CEO during Atomico, said: “Brent is a colonize of record entrepreneurship in Europe. For dual decades he has finished some-more than many to find, support and inspire Europe’s best founders. That’s because we were so gratified he became one of a Entrepreneur Partners final year and it’s why, when Brent told us about firstminute, we wanted to be his initial investor. We share a organisation faith in a destiny of Europe’s record ecosystem so we’re vehement to be partial of this new account as it backs Europe’s many earnest early theatre founders.”

The sum in a statement:

New investors:
• Second institutional investor: Tencent
• Entrepreneurs: Frederic Mazzella (BlaBlaCar), Fritz Demopoulus (Qunar), Wes Nichols (MarketShare)
• Other: Sir Paul Ruddock (Chairman of Oxford University Endowment Fund), Alex de Carvalho (Heineken house member, co-founder of Public.io), John Taysom etc
• Chinese investors (including Tencent): Nan Fung Group (assets opposite shipping, textiles, genuine estate and an increasingly vast tech portfolio), Cheung Chung-Kiu (President of CC Land, that bought a Leadenhall for £1.15bn progressing this year)

• Advisory Board members:
• Pete Flint (co-founder of Trulia)
• Jean-Francois Decaux (co-CEO of a €6bn listed entity, JCDecaux)
• Hanzade Dogan (Chairwoman of Dogan Online, largest media organisation in Turkey, and owner of Hepsiburada, largest ecommerce height in a region)
• Mattias Ljungman (Atomico, co-founder)
• Geographic widespread of entrepreneurs (US, China, Israel, France, Germany, Spain, Sweden, Finland, Serbia, Switzerland, Turkey etc) – reflects extended geographical investment charge and will minister to healthy upsurge of ex-UK dealflow.
• Team: initial youth sinecure made, Lina Wenner; 3 some-more hires to be announced by year-end.

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Posted by on Sep 15 2017. Filed under Europe. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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