Entrepreneur First, the London based company which backs individuals and their teams to build deep tech companies from scratch has raised $115 million for a fresh fund. The company says that the fresh fund will allow them to invest in more than 300 more startups in the span of 3 years.
The investment for the funds have come from a few unnamed institutional investors across the U.S., Europe, and Asia along with a new entrant, Trusted Insight. The fund also saw investment from Taavet Hinrikus (co-founder of TransferWise), Alex Chesterman (co-founder of Zoopla) and EF alumnus Rob Bishop, co-founder of Magic Pony Technology which was bought by Twitter.
EF says that this is the largest pre-seed funds ever raised by them and this will allow them to back and support more than 2,200 individuals who will join the batches of EF for various programs in the next 3 years. The company claims that the fund will create more than 300 companies. It currently operates in Bangalore, Berlin, Hong Kong, London, Singapore, and Paris.
Alice Bentinck and Matt Clifford had started the platform way back in 2011 in London. Bentinck, the CPO of the company commenting about the firm said, “We pioneered a new model of talent investing, and it’s encouraging to see this become a new frontier for venture capital. We believe the world is missing out on some of its best founders because of ecosystem constraints, a lack of co-founders and difficulties getting early pre-company funding. Entrepreneur First is changing that.”
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