Ian Merricks, FBCS FRSA

🌱 Looking to Connect with Leading VCs and Early-Stage Investors? 🌱 At Virtualnonexecs, we don;t only work with PE firms - we are also proud to be working with some of the UK’s most active early-stage investors to help them find the top board advisors and chairs who can drive impact. If you're a non-executive or chair looking to connect with the heart of the startup ecosystem, take note of the names below. Here are 10 of the UK's most active early-stage investors and the incredible numbers that back them: 1. Octopus Ventures - Backed 100+ startups, with a portfolio value of over £1.3 billion. 2. Seedcamp - Over 400 startups funded, including unicorns like Revolut and TransferWise 3. LocalGlobe - Invested in 300+ startups across deep tech and fintech. 4. Playfair - Early backer of companies like Stripe and Anduril. 5. Passion Capital - Early investor in Monzo Bank, managing £100M+ in assets. 6. Ascension - Over 100 startups backed with a focus on social impact and fintech. 7. Frontline Ventures - Backed 80+ startups across Europe with a key focus on B2B. 8. MMC Ventures - £500M+ under management, supporting 60+ innovative growth companies. 9. Balderton Capital - Invested in 220+ startups with notable exits like THG. 10. Entrepreneur First - 500+ startups built, including companies now worth over $10 billion collectively. ✅ To join Virtualnonexecs: https://lnkd.in/eXBj687 ✅ If you are a VC or company looking to hire: https://lnkd.in/d3na7CEC #NonExecutiveDirectors #Chairs #VentureCapital #Startups #Virtualnonexecs #BoardRoles #Leadership #BusinessGrowth

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"Funding Collapse sends investment in start-ups to six year low" The Times today covering the shocking stats that VenturePath uncovered, with our partner Beauhurst. Great quotes from supporters Michael Moore CEO, BVCA and Julian David CEO, techUK. * UK VC funding at Series A is -44% from last year, and worsening * Q3 24 is down a staggering 57% from Q2, itself down from Q1 * 9 in 10 seed funded startups cannot access Series A VC funding, the next 'rung on the funding ladder' * Just 32 future scaleup companies across the whole of the UK were able to access their first VC funding round in Q3...a 6 year low * Half a billion less capital is going in to UK scaleups at Series A, than just 2 years ago! As the UK scaleup funding gap widens, we are losing ground against other countries, at both startup stage (a position the UK worked hard to achieve, since 2011), and for scaleup support. OECD data: 13th in the world for scaleup support, and that's before Series A funding access dried up. I get that its confusing. Another report (BBB, Nations & Regions) released this week spoke of positive trends in private investment, stating "The data for Q2 2024 shows that investment value has continued to grow". Great, I love to see optimistic data. But under analysis that bundles venture with private equity (later stage), where a few megadeals skew the numbers. Otherwise the exact opposite is true. Our independent research here, for the UK ScaleUp Investment Mission, is laser beam focussed on Series A. The funding round where companies move from the c.1m startups launched each year, through the 2,179 that access seed funding, into the rarefied category of being recognised as future scaleups, attracting Series A funding (£2-10m). The UK venture landscape is currently funding just 248 pa of these companies, and declining. We've been sharing this urgent call for support with the new Government since the day after the election. I've personally met with several Ministers, and spoke to all the relevant Government departments. I will shamelessly repeat loudly what is at stake. UK scaleup funding at Series A has nearly halved in a year, and continues to decline steeply, more than halving in the last quarter. VenturePath developed The UK ScaleUp Investment Mission to convene the scaleup support ecosystem and £7bn of funders to help address this problem, to improve nationwide access to VC investment, and create more venture-backed successes. We have clear support, clear recommendations to reverse this decline in UK scaleup investment, and have made a clear ask of Government for participation in this, to ensure immediate action is taken to create the conditions for success for UK scaleups, ensuring the focus on growth isn't undermined by lack of capital, or equitable access to it. Government decision makers, we'd love your interest, to progress to action. HM Treasury: Rt Hon Rachel Reeves Spencer Livermore James Murray & CC Poppy Gustafsson (welcome to the debate).

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Good to see SIS Ventures EIS fund covered here by Hardman & Co The SIS Ventures EIS / SEIS Fund is open for applications! Our Fund's Information Memorandum is available to qualified investors. We are committed to backing exceptional founders, investing in high-growth businesses with global ambition. SIS Ventures are impact investors, please check out our Impact Report 👀: https://lnkd.in/eGuz6bqY for insights into our impact investing approach, portfolio and progress: ✔ SIS Ventures uses venture capital to address the most complex problems facing society and the planet, with IP-rich solutions as a force for good. ✔ Impact Reach 🌍: Growing number of our companies are gaining traction globally for their products or services. ✔ Types of Portfolio Companies we invest in, and their progress: Read about how each of our portfolio companies are growing their businesses and progressing impact. ✔ Our desire for rigour, transparency and measurement in respect of impact and sustainable investment; investment in innovation. Assuring investors of our commitment to impact investing. ✔ Ensuring fair and equitable access to venture capital, to fund the best opportunities. ✔ Sector agnostic approach: Widening our coverage across UN SDGs If you are looking to invest or understand risks further please get in touch. CAPITAL AT RISK Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more via the following link https://lnkd.in/dx3n6Q7Q #impactinvesting #venturecapital #EIS #innovation

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VC Industry Data coming out much earlier this year!!! Let us get you up to speed on: levels of fundraising, exits achieved; investment trends; sectors attracting the most capital; and so much more. Interested in joining us for the VC Industry Survey Launch and sharing your industry perspectives? Please register your interest below. See you there!

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ANNOUNCEMENT: We just launched our diversified fund investments feature on Mainshares 😲 Starting today, accredited investors can invest in SMB acquisitions managed by sophisticated investors via Mainshares I’ve been telling you all that we’re here to change the game of SMB investing for the better, and this is a huge step for us. Before, SMB investing was commonly done on a deal-by-deal basis, and depending on who you are, you may not have the time to spend parsing out every deal. Well now, investors on our platform have access to deals across a variety of industries, geographies, and deal structures in this (traditionally) inaccessible and fragmented asset class. Invest in ~20 SMBs, all with a single investment. Join the Mainshares train before we take off like a 🚀 Link below for diversified SMB investing 👇

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PE and VC firms still only have women in 11% of key investing positions. Only 2p out of every 100p invested goes to backing female-led companies. Unlocking the potential of female-led enterprises will contribute about £250 billion to the UK economy. The bottleneck for female entrepreneurs is still access to funding. I’ve been there, pitching your business to a room full of men always feels a little strange. While some of them are supportive, there remains an unconscious bias against female-led companies. This is heightened when pitching companies that solve problems and pain points specific to women. The answer to this problem is creating and supporting more female angel investors. With the support of the British Business Bank, the Invest in Women Taskforce is exploring ways to amplify the value of women backing other women through match funding. Forbes did a feature on IWT’s work titled “When Women Mean Business For Women”. To learn more, read the full piece for yourself here: https://lnkd.in/ezN9AjTQ

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Striking: Zenobē, a UK climate tech startup, raised £600m from KKR and £270m from Infracapital, bypassing VC entirely. Zenobe captures excess energy from wind farms to stabilize the grid and reduce gas power reliance. This means: Zenobe secured one of 2023's biggest startup fundraises — without any venture capital. #battery #fundraising #venturecapital #energystorage #infrastructure #growthinflection Sifted: https://lnkd.in/g8wF-xA5

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It was fantastic to have been a panellist at today’s EntreConf and EntreConf Awards, a vibrant two-day conference for entrepreneurs and advisers. I was joined on the ‘Funding Routes’ panel by Richard Spilsbury of Link Stone Advisory, David Goodall of FW Capital and Paul Duggan of Blake Morgan LLP. Key takeaways from our discussion, which was moderated by Greg Ingham, formerly of Future Publishing LLC, included: 💰 The market is much more positive than headline figures suggest. There are lots of options out there for those seeking funding. 💰From VC and CVC (Corporate Venture Capital), to off balance sheet investments by the big strategics, as well as family offices, HNWs, debt, grants and invoice discounting, there are plenty of routes depending on what stage you are at. 💰A VC will look at your business differently to a CVC. A VC will be assessing your business plan, the expertise of the team and whether they can deliver and scale the business, as well as whether the problem/solution you are addressing is big enough to lead to scalability. They will also look at your routes to market, financial performance and quality of earnings, with recurring revenue being the nirvana. 💰 A CVC wants to see all of the above - but also where your business fits within their strategic roadmap to use their investment to accelerate their innovation. 💰Although there is a cost of raising capital to a business, the benefits of having the right investors on board is vast and a driver for turbo-charging growth. 💰When you're looking to create your target list from the universe of investors, ensure you include sector focus funds who will be targeting businesses within your industry to find the best fit. #fundingroutes #entreconf #investment #capitalraise

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Delighted to announce that Antler UK has backed 9 new early-stage tech companies, bringing our portfolio to a total of 96 investments in the UK. Antler offers the most comprehensive early-stage due diligence in the industry with 200+ hours of due diligence enabling Antler to make high-conviction and data-driven investment decisions at the earliest stage of investing. Antler's 10th residency in London attracted 1,100 aspiring founders. From this group, 66 founders were carefully selected, representing 27 different nationalities, with 24% of the cohort comprising of women. These eight investments span diverse sectors like Industrials, Fintech, B2B software and Mobility. In addition, Antler has made one seed investment in the first quarter of 2024, in a ClimateTech startup still operating in stealth mode. We are delighted to welcome the following eight startups to Antler’s portfolio in the UK, and are excited to be on this journey with you! ⚙️ AlphaLoops - Automating investment management operations using AI ⚠️ BankBridge - Bridging the due diligence gap between financial institutions 🔎 Capsa AI - AI Operating System For Private Equity 📝 Falco - AI-powered platform that empowers financial firms to identify and translate regulatory changes into actionable insights 🚚 Fleevo - The AI-driven Operating System for Modern Commercial Fleets. Driving Efficiency, Uptime, and Sustainability 🛍️ frnt - Optimising retail operations with digital workers 🎯 Intriq - Transforming businesses with the power of AI through the use of private equity playbook strategies 🦾 RoboMinder - Elevating industrial robot uptime with AI-powered computer vision

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The article outlines five critical priorities for the UK government to support SMEs better: improving access to finance, enhancing digital infrastructure, reducing regulatory burdens, fostering innovation, and expanding international trade opportunities. These actions are essential in empowering SMEs, the backbone of the economy, to thrive in a competitive and rapidly evolving market. The government can help SMEs overcome challenges, drive economic growth, and create more resilient and sustainable businesses by addressing these key areas.

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Maternity in VC in the spotlight. Well done Rachel Drapper, Sophie Winwood & the WVC:E team on getting this important report out there. In VC we’re dealing often with small firms, network & event heavy schedules and FOMO of being left behind if we take time out (I refuse to use the word off as anyone who’s had a child knows that’s the furthest from how it feels). If you’re thinking about having a child or in the throes of the early-stages, navigating how to even try and get some semblance or balance, then hopefully this report can provide some useful tips. Most importantly showcasing that you’re not alone.

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I couldn’t be prouder to be a Venture Partner at Isomer Capital (aka the best European FoF - at least for me) as we just announced the launch of our pioneering £100m secondaries fund. This fund is dedicated to acquiring stakes from LPs in various VC funds, tapping into a massive and largely unexplored market. 🌟 Key Highlights: - Focused Investment: Primarily targeting stakes in VC funds, with selective investments in private companies. - Robust Funding: Already over 20% funded, thanks to strong support from Nordic family offices and a German foundation. - Market Potential: With a growing number of private tech companies and a VC liquidity crunch, Europe's VC secondaries market is poised for rapid growth. - Track Record: This isn’t Isomer’s first foray into the secondaries market. As a firm we’ve done several secondaries deals with portfolio companies and VC firms, including early-stage VC Seedcamp (in 2021) and mobility giant Bolt (in 2023). - Expert Team: Welcoming the amazing Omolade (Rachel) A., formerly of Coller Capital, as a principal to lead this initiative. 💡 Investment Strategy: - 65-75% of the fund will buy "LP interest" stakes in VC funds. - 15-25% will be directed towards stakes in companies. - Up to 15% reserved for flexible investment opportunities. 📈 Looking Ahead: We're targeting returns of 2-3x, with significant distributions expected in the next 4-7 years. As one of the few players in this space, we're not just participating in the market—we're driving it forward. Read all about it here: https://lnkd.in/dc7sbC3G #VentureCapital #SecondariesFund #EuropeanVC

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Ever wonder what its like to run a Private Equity fund? Now you have the chance to follow along with successful investment managers by participating with Fund Launch Partners. Join me and Lincoln Archibald and next week for the Third Thursday @ Three to hear about direct investment opportunities with General Partnerships in the one of the fastest growing portfolio investment sectors. Pick up a free ticket here: https://lnkd.in/dd2yzxDd #HolyGrailofInvesting #GPOpportunities #FundLaunch #Alternatives

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Hey, whaddaya know, my article on capitalism, property, and freeing up the market to do its job made it into the Guernsey Press . Crosswords and Sudoku also available. Thank you again Amanda (Mandy) Eulenkamp. #founders #startups #venturecapital #buildinginpublic #investinginpublic More at unbundled dot vc.

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Great to see SIS Ventures make this list by TechRound https://lnkd.in/eDtRbggM A bit more about what we look for below. If you're a founder and these hit the mark 👇 then please get in touch Investment targets SIS Ventures is focused on high-impact, high-growth potential businesses our investee companies are innovation-led, often spun out of Scotland’s leading university innovation programmes. Portfolio companies are also carefully selected for their commitment to developing their environmental, equality and diversity, social impact and governance practices. SIS Ventures seeks to provide equity investment to: ✔ High growth potential with a global scale and intent to provide significant impact ✔ Focus on social and/or environmental impact, aligning with impact themes / at least one of the UN SDGs ✔ Product or service backed by defensible technology or proprietary know-how ✔ EIS or SEIS qualifying ✔ Low capital-intensive businesses ✔ Sector agnostic, but historically invested across Life Sciences, MedTech, Climate Tech, Circular Economy, Biotech ✔ Pre-seed – Series A ✔ Headquartered in Scotland

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🚨 Funding Alert: It's the last day of October, and 2024 is slipping away faster than you think... You know it, I know it – the funding world moves at LIGHTNING speed ⚡️ Timing is everything, and opportunities vanish in the blink of an eye. If you're aiming to land a funding deal before year's end, we've got your back! 💪 At Magdalena Reith, we're offering a special Q4 deal: Book a pitch deck package before November 15th and get a FREE one-pager 🎁 Your strategic conversation starter that turns "Maybe later" into "Let's talk!" Looking to finish Q4 strong and slingshot your startup into 2025? Here's what you get in our Q4 Power Package: 🎯 Expert guidance  🎁 FREE one-pager  💼 Professional pitch deck  ⏰ Priority completion (optional) Reach out via DM or drop a comment below to learn more and lock in your package before November 15th! #StartupFunding #PitchDecks #Startups

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It was great to get the investment in Stacatruc Limited completed. The first of many to come at YFM Equity Partners from Matt Gordon-Smith, with huge support from Callum Long. It took us longer to convince Matt Gordon-Smith to come and join us than it did for him to complete his first investment with us. Stacatruc is the 4th investment in the last 5 months - with another 6 in diligence across the business. We have a big team now though so plenty of capacity across all of our offices to talk about new opportunities. We can invest between £3m and £15m of equity. Either to fund a Change of Ownership when a business has £1m+ profit (MBO's, partial cash outs, carve outs etc), or Growth Capital to go faster when a business has £1m+ Revenue or ARR.

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