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- EvergreenClosing Date
- EISFund type
- £20,000Min. Investment
This fund will carry on with the goal of investing in early stage businesses’ seed rounds. The Fund will also continue to invest in the rapidly growing sectors such as marketplaces, software and transactional businesses. Fuel Ventures seeks to work with entrepreneurs and their teams to support the companies and their growth. We believe we have the expertise, experience and skill set to identify and help build valuable, innovative, and lasting businesses. By identifying and investing in such companies, I believe the Fund can deliver exceptional returns to the Fund’s investors.
- Market leaders - We invest in market leading companies with the potential to deliver a minimum of 10x returns.
- 40+ companies since 2015 - We’ve invested £75m+ in over 40 early-stage companies since 2015.
- All under one roof - We provide hands-on support and value add to our portfolio.
- Proven track record - We have a proven track record of successfully scaling tech companies.
- Seed to pre-series A - We invest from seed to pre-series A & deploy follow-on capital to our winners.
- 300+ companies a month - We’ve built a significant pipeline of deals and we select the most promising ventures.
Outlined below is the Investment Manager and Investment Adviser’s four-stage approach used in identifying a potential Investee Company.
- Identification: building on research carried out by the Fuel Ventures team, utilising their existing high profile and network of alumni and contacts from previous investments, Fuel Ventures (acting as the Investment Adviser) will identify earlystage start-ups primarily in the UK. All identified opportunities will be evaluated against investment criteria set by Fuel Ventures before moving to the discovery stage.
- Discovery: The Fund seeks to invest in people as much as ideas. The informal and subjective discovery process provides the Investment Adviser and Investment Manager with the opportunity to understand not only the company founders but also how Fuel Ventures will be able to support the growth of the company.
- Evaluation: Once passed the discovery stage, Fuel Venture’s evaluation process tests the assumptions of the company plans. This is coupled with a due diligence process carried out by Fuel Ventures as part of the Investment Advisory Services, across key aspects of a potential investees business and its key employees.
- Investment: Recommend investment advice is presented by Fuel Ventures, in their capacity as the Investment Adviser to the Investment Manager, in order to allow the Investment Manager to review and to decide on proposed investments.
Heroes is a leading acquirer of 'Fulfilled by Amazon' (FBA) businesses, where Amazon undertakes the logistics operation from storage to deliver. Heroes is building the European answer to US based Thrasio, the fastest profitable tech-company to reach unicorn status (2 years to $1bn valuation and profitable). Heroes achieves rapid growth by acquiring profitable companies in acquiring profitable category leading brands in their respective categories. We invested in Heroes in October 2020 and they are now doing £46m LTM GMV. They also announced a further $200m fundraise only 12 months after our initial investment.
Volt is a payment platform for e-commerce retailers which facilitates a new type of payments called Real Time Payments (RTP). RTP payments are currently defined by the use of bank transfers as opposed to card payments, saving significant costs to retailers, whilst also increasing consumer safety and making transactions many times faster. This is only possible now through open banking, and Volt is taking advantage of this legislation to begin bringing RTP to e-commerce stores. Volt is now doing circa £100k in monthly revenue and closed a £15m Series A from EQT Ventures at a 10.3x valuation uplift.
OnBuy is a leading e-commerce marketplace that does not hold stock or sell any of its own products which could compete with their sellers. They have over 26m+ products and have won major global sellers such as The Hut Group, Unilever and P&G. We invested into OnBuy in January 2020, which has grown nearly 900% YoY with around £200m+ run rate of marketplace revenues. We have achieved an uplift of 14.3x at their latest investment round when they raised at £150m valuation.
Mark is an award winning digital entrepreneur having achieved multiple successful exits over the last decade. Mark takes an active role in mentoring the Fund's portfolio of companies.
Jing has extensive experience working with international investors and key Asian markets. Jing manages relationships with Chinese investors and Tier 1 Entrepreneur visa clients.
Michael has extensive experience and a prominent background in managing international investor relationships. Michael heads up Business Development/ Investor relations and supports the portfolio companies with growth plans including follow on investment.
The Fund—via the Investment Adviser–seeks to assist the Investee Companies to build products and services people want and need, helping them grow internationally and increase in value for potential acquisition or listing opportunities.
The expected holding period of most investments will be between the minimum three years for tax conditions and up to ten years. The recommend holding period for an Investor is ten years. However, it is noted that Investee Companies may be held for longer periods. It is also noted that following the realisation of the Qualifying Shares in each Investee Company, the realisation proceeds will be paid to the Investors. Consequently, it is possible that Investors will receive distributions from the Fund over a period of time.
News and insights
The attention of Investors is drawn to the information set out in Risk Factors section of the IM which sets out the principal risk factors associated with an investment in the Fund.
The tax treatment referred to in the IM depends on the individual circumstances of each Investor and may be subject to change in future. In addition, the availability of any tax reliefs depends on the Investee Companies maintaining their Qualifying Company status.
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The content above has been provided by Fuel Ventures, an Appointed Representative of Sapphire Capital Partners LLP who are authorised and regulated by the Financial Conduct Authority under firm registration number 565716.