Fuel Ventures has launched a £100 million fund to invest in UK tech startups.
The London-based VC plans to back more than 60 startups across SaaS, marketplaces, FinTech and eCommerce in the next 12 months.
With a main focus on seed and pre-seed rounds, it will also consider some follow-on funding for portfolio companies.
Virtual food brands operator Peckwater Brands, eCommerce marketplace OnBuy and Lunio are among 140 investments made over the last five years, totalling £140m, with almost £350m in assets under management currently.
“We are investing in the long-term future of the UK tech landscape. Despite the pain the industry is feeling at the moment, now is not the time to hold back. There remains exciting entrepreneurial talent and incredibly innovative tech businesses with huge potential,” said founder and managing partner Mark Pearson.
“These are the ones that need our support at their most vulnerable – those early days when capital and support from experienced backers are vital.
“I have been there myself and know how hard it can be to get a business off the ground. My aim is to invest in and work with a greater number of tech ventures that will contribute to a stronger tech landscape in the years to come.”