London-based MMC Ventures raised 100 million pounds for its scale up fund. The fund will provide capital to the firm’s later-stage portfolio companies.
At MMC we believe that to be an effective partner to the exceptional entrepreneurs we back, the only viable approach to investing is to deepen our own understanding and commitment and to provide real support as companies scale.
Today, we’re excited to announce our latest fund, the £100 million MMC Scale Up Fund, which enables us to provide expansion capital to our later-stage portfolio companies, deepening our commitment to their journey.
The Scale Up Fund, coupled with our £52 million seed fund announced earlier this year, means we can invest across the full lifecycle of a business.
In the last twelve months, we have invested more than £100 million across the pre-seed, seed, series A and later stages in amounts ranging from £100,000 to £25 million, the largest investment from the Scale Up Fund to date.
Some of our investments include:
Signal AI: The media monitoring platform transforming how executives make sense of the information explosion.
Signal AI recently announced its $25 million series C round.
Gousto: The data business combating food waste and inspiring you to cook better meals.
Gousto’s recent £30 million funding round takes its total funds raised to over £100 million.
Lookiero: the online personal shopping service making it easier for you to stay in style.
MMC led the $19m funding round for the Bilbao-based business to expand into the UK.
The Scale Up Fund can also participate in secondary transactions, offering liquidity to early MMC and third-party investors. In this way, capital can flow back into the early-stage funding ecosystem while MMC takes a longer-term outlook.
“2019 has been a big year for our firm and the launch of our new Scale Up Fund represents a scale up moment for MMC as well as a significant innovation in the UK venture market. This Fund allows us to double down on our most successful businesses while enabling our investors, and others, to take full or partial exits from early investments.
We will continue to focus on our core specialism as a series A investor, but I am delighted we can support entrepreneurs with funding through their lifecycle, from the very beginning, through growth, then later stage expansion capital.”
MMC Managing Partner, Bruce Macfarlane