[Funding alert] London-based Episode 1 Secures its Third Fund at £76 Million

Tuesday 6, 2024 | By Startup Rise EU

London-based Episode 1 Secures its Third Fund at £76 Million. Episode 1's most recent funding vehicle calls for the company to make 10 to 15 pre-seed and seed-stage investments annually, mostly in UK-based firms, while it also states that it is open to considering startups headquartered in the US and Continental Europe.

London-based Episode 1 Secures its Third Fund at £76 Million. Episode 1's most recent funding vehicle calls for the company to make 10 to 15 pre-seed and seed-stage investments annually, mostly in UK-based firms, while it also states that it is open to considering startups headquartered in the US and Continental Europe.

The company specializes in open-source, healthtech, AI, TechBio, open-source, software infrastructure, and marketplace startups. Ticket sizes are anticipated to range from £250,000 to £3 million.

Read also - British Biotech FA Bio Raises €6.1 Million in Funding

In its little more than ten years of existence, Episode 1 has supported 69 startups, including Carwow, Huboo, CloudNC, Raft, Robin AI, Fatmap, and Omnipresent. The company also notes that 73% of the companies in its previous fund's portfolio have raised a Series A, which is three times higher than the average rate of pre-seed and seed graduation.

Episode 1 GP Hector Mason shared: “This new fund, our biggest yet, is really a testament to the work of our portfolio founders who are building some of the fastest growing companies in Europe. It’s their tenacity, creativity, and vision which has enabled our fund to go from strength to strength and made this new fund possible. “As a team, we never sit still. This fund gives us the ability to double down on our team and the proprietary tech that’s got us to where we are today, as well as providing more firepower to invest in the next generation of extraordinary founders.”

Molten Ventures supported Episode 1 Season 3 in addition to British Patient Capital and the National Security Strategic Investment Fund's £20 million pledge. According to Episode 1, in addition to institutional investors, more than one-third of the new fund's limited partners are current or past founders, including 21 entrepreneurs who the business has previously funded.

Read also - Dutch AI Startup Whispp Secures €750k in Seed Funding

Alex MacDonald (founder of Velocity Black and Sequel), Aron Gelbard (founder of Bloom & Wild), Aidan Corbett (founder of Wayflyer), and Alex Chesterman (creator of Zoopla and Cazoo) are among the other LPs.

About Episode 1

Episode 1 is a venture capital firm that makes Pre-Seed and Seed investments in B2B software enterprises. It has backed successful businesses like Carwow, CloudNC, Raft, Robin AI, TouchSurgery, Zoopla, Omnipresent, and Attest. In the first episode, teams with exceptional insight into developing or emerging markets are given investments ranging from £500k to £3m.

Read also - Lyon-based ENYO Pharma Secures a €39 Million in Series C Round Funding

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