Public-Private VC Start-Up
Hard on the heels of a new Cambridge VC company comes a new London VC initiative.
The Cambridge company, Cambridge Innovation Capital was started last week backed by the university, ARM and several investors. It said it would take a long-term view of its investments.
The new London VC company is called ‘Episode 1′ has £37.5 million – £25 million of which is public money. It will look for high-tech investments with an emphasis on software start-ups.
Episode 1 is looking at the next funding stage for start-ups after angel money. The aim is to invest between £250,000 and £2 million in around 30 early-stage companies.
It is adopting the usual 10-year expectation for its investments.
The public money element means that Episode 1 can only invest in companies based in the UK or with a major presence here.