Funding

Outward VC funding news – London-based Outward VC Secures €60.5 Million in Funding

Sep 10, 2024 | By Startup Rise EU

London-based investment firm Outward VC has secures €60.5 million in funding. The fund has received a cornerstone investment of €35.5 million from the British Business Bank, which is deploying capital through its Enterprise Capital Funds programme, which has a strong track record in backing emerging, UK-based Venture Capital fund managers. A wide range of private investors are also participating in the fund.

SUMMARY

London-based investment firm Outward VC has secures €60.5 million in funding.
Outward VC , Helping founders breakthrough is what gets us out of bed in the morning.

With the launch of this new fund, Outward will keep up its goal of assisting Founders in making significant strides in the early phases of their companies. The fund will start making investments right away.

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Devin Kohli, Outward VC Co-Founder said, “Starting out as a Founder is one of the toughest challenges out there, especially at the early stage. Our new fund continues our mission to make the early-stage experience easier for Founders, starting with leading their first institutional funding round. As a testament to our personalised approach, we are often the first call that our Founders make when facing an important challenge,".

Similar to its initial fund, Outward VC will spearhead pre-Series A capital rounds valued at up to £5 million, with a substantial percentage of the proceeds designated for further investment opportunities.

Ken Cooper, Managing Director, Venture Solutions, British Business Bank said, “The British Business Bank’s Enterprise Capital Funds programme is key in helping to develop and maintain effective venture capital provision in the UK, lowering the barriers to entry for emerging fund managers. The programme has backed 46 funds, representing more than £2bn of finance. Our commitment to Outward VC builds on that success and will help early-stage Founders across the UK to build their businesses,”

Janine Hirt, CEO, Innovate Finance said, “FinTech has been a significant success story for the UK over the last 10 years, creating over 75,000 jobs, filling the gaps in SME lending, and driving financial inclusion and growth across the country. We welcome the launch of Outward VC’s fund providing needed capital to early-stage Founders and contributing to the growth of the sector,”

About Outward VC

Outward VC , Helping founders breakthrough is what gets us out of bed in the morning. Being an early-stage founder comes with numerous challenges and hurdles. The greatest value that Outward can add is to make the early-stage experience easier.