First Minute HQ Brent and George

Firstminute Capital, the startup investment fund from Lastminute.com founder Brent Hoberman and former Goldman Sachs analyst Spencer Crawley, has raised another $25 million (£19 million).

The money will be used to back startups across Europe, particularly those operating in industries like medtech, robotics, fintech, and artificial intelligence.

Firstminute Capital announced a first close of $60 million (£45 million) in June but a final close of $85 million (£64 million) was declared on Thursday.

New investors include Chinese tech giant Tencent, BlaBlaCar cofounder Frederic Mazella, Sir Paul Ruddock, who is the chair of the Oxford University Endowment Fund, and a host of other high net worth individuals.

Hoberman, one of the most well-connected men in UK tech and executive chairman of Firstminute Capital, said in a statement: “We believe that emerging European technology startups will continue to excite, and build on the momentum that has seen 47 unicorn companies built in Europe in the last 10 years. We hope to help the next generation of top entrepreneurs, both with our reach and by giving them credibility and support.

“We will invest not just in the UK, but across Europe. We aimed to raise $60 million for our first fund, and are happy …read more


Source:: Businessinsider – Tech

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