Balderton raises $600m fund for start-ups

Balderton Capital has closed its second fund of 2021, raising $600m (£446m) for early-stage start-ups. The venture capital fund currently has $1.2bn invested across Europe. Since the start of 2021 alone, Balderton has invested in 20 new start-ups in sectors ranging from reproductive health and instant commerce to data labelling and gaming. The firm says 13 of its portfolio companies became unicorns this year – having revenue in excess of $1bn – while four of its companies have gone public through IPOs. To date, Balderton has raised almost $4.5bn across 10 funds, with investments including Depop, Nutmeg and Darktrace.

Lyre’s drinks up £20m funding round

Non-alcoholic drinks brand Lyre’s has closed a £20m funding round, valuing the business at £270m. New investor D Squared Capital led the round alongside existing investor Morgan Creek Capital Management. Other early backers increasing positions included DLF Venture, VRD Ventures and Maropost Ventures. Lyre is available for sale in more than 50 retailers in over 60 countries in less than two-and-a-half years of trading.

IT consultancy Kick ICT just the ticket for BGF

BGF, the state-backed start-up investor, has invested £8.7m in Scottish IT group Kick ICT, which offers IT services to businesses. Kick ICT currently has over 900 customers ranging from SMEs to enterprise-level businesses.

Pixie raises £2.3m in seed funding for accounting platform

Pixie, the operating system for small accounting and bookkeeping firms, has raised £2.25m in a seed funding round led by Triple Point Ventures alongside Seedcamp, MMC Ventures and serial entrepreneurs and angel investors. Pixie helps small accounting firms adopt traditional practice management applications. Over 1,100 accountants and bookkeepers currently use SaaS platform Pixie to manage workflow more effectively.

Clean Kitchen Club bites down on £1.5m seed round

Vegan burger chain Clean Kitchen Club has raised £1.5m in seed funding through angel investors including Clive Sharpe, ex-chairman of Quorn, and fitness influencer and entrepreneur Grace Beverley. Made in Chelsea TV personality Verity Bowditch co-founded Clean Kitchen Club with Brighton-based entrepreneur Mikey Pearce, opening their first site in Brighton in summer 2020. Already the brand has grown to five sites across London, with plans to open up to 40 new sites across the UK.

More Deals of the Week

Deals of the week Nov 8 to Nov 12 – a GrowthBusiness roundup