Parminder Basran

VGC Partners launch £1m Technology Seed Fund IV

VGC Partners launches £1m Technology Seed Fund IV 

  • Investments will focus on innovative early stage tech companies
  • Investments available up to £150,000 in 2020/21 tax year

London-based VGC Partners is launching its £1m Technology Seed Fund IV, headed by Parminder Basran, which looks to invest in early stage, tech companies which are addressing corporate innovation challenges.

The UK is home to a growing number of developers, solution providers, agencies and manufacturers that are building their business around voice technology. The funding will enable them to hire new designers and engineers, along with marketing their products.  In addition, these start-ups will also be eligible to participate in Amazon’s Alexa Incubator Programme.

Under this scheme, Amazon offers technical and business mentorship to voice start-ups, including those receiving seed capital and business mentorship from local venture capital firms like VGC.

VGC Partners will continue the relationship built over its first three SEIS funds with Zag, the venture arm of international advertising agency Battle Bogle Hegarty (BBH), and a selection of other corporate partners, which will help to source deal flow and offer support to portfolio investments. Taking advantage of the Seed Enterprise Investment Scheme (SEIS), the Technology Seed Fund IV will target up to 10 investments in FMCG, health and wellness, sustainability, digital media, e-commerce and fintech businesses.

Parminder Basran, Founder and Managing Partner at VGC Partners, said: “As a growth capital investment firm, we want to support new companies built around the voice economy, and this is an excellent opportunity to help British voice start-ups take their business to a level where they can raise follow-on capital from VGC Partners, other venture capital investors or corporate companies.

The Technology Seed Fund launched in June and is looking to invest in voice start-ups over the course of the 2020/21 tax year. Interested companies should contact VGCP at [email protected]

ENDS

Press contact:

Callum Brookes, MC2

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Notes to editors

About VGC Partners

Founded in London in 2011, VGC Partners is a growth capital investor with c.£100m under management across several funds and investment vehicles. The firm is backed by a number of institutions and high net worth individuals who have experience in building consumer, media and technology companies.

VGC Partners’ strategy is built on taking significant minority stakes in private companies, investing between £150,000 and £5m and working alongside management teams to optimise value and support sales to either private equity or trade buyers. This includes leveraging technology, corporate partners and operational networks across the US, Europe and Asia-Pacific to help drive meaningful growth for its portfolio.

Track record:

  • Investment in SuperAwesome, the UK based media business that enables safe digital engagement for children under 13 years of age. Its technology is used by Lego, Hasbro, Mattel and Disney, which has helped build an audience of almost half a billion children across North America and Europe. Mayfair Equity Partners went on to back SuperAwesome with a £17m investment in July 2017, followed by significant investment from KIRKBI and Microsoft in 2019.
  • Partial exit of Iconic Images, the company which owns the archive of a number of photographers, including the legendary Terry O’Neill. This generated a 2x return in 18 months.
  • Investment in 10Ten, the talent management company run by Terry Byrne, who has managed a number of high-profile figures in football, including Pelé and David Beckham. 
  • The sale of car rental company Silvercar to Audi in 2017 for $91m.

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.