Sussex Place Ventures now has a new pot of capital to go out and back early stage British technology firms.
The Regents Park Partners II ECF is two thirds populated by a contribution from the UK government’s British business bank and one third from private investors, technology entrepreneurs, business angels and London Business School alumni.
The business bank injection has been made through its Enterprise Capital Fund programme, which consists of 16 funds with a total investment capacity of £530 million.
Andrew Likierman, dean of London Business School, comments, ‘Sussex Place Ventures’ new fund is another example of how London Business School is involved in practice as well as teaching and learning.
‘Our alumni element is an essential part of the concept and we value their involvement, which also helps with our growing entrepreneurship activities.’
According to a statement, Sussex Place Ventures will invest alone as well as part of syndicates and will utilise London Business School alumni and entrepreneurs in the network to provide due diligence, value-add for future portfolio companies and deal flow.
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Sussex Place Ventures was initially founded in 1998 to support London Business School’s entrepreneurship programme and is now headed up by joint managing partner Barnaby Terry, operating partner John Brimacombe and investment director Ivan Shyr.
Ken Cooper, British business bank’s managing director, venture capital solutions, adds, ‘Our VC solutions, such as the Enterprise Capital Funds, help to create investment capacity to back innovative high growth businesses that would otherwise face a funding gap.
‘The Sussex Place Ventures team has a good track record in making such early-stage investments, and we are delighted to be able to back them with an investment in this new ECF fund.’