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A young British fund has raised £60 million to invest in early stage startups





Simon Murdoch episode 1

Episode 1 Ventures, the venture fund that was an early backer of Carwow, has raised £60 million for its second fund targeted at British early stage startups.

More than half of the money comes from the state-owned British Business Bank, which is contributing £36 million through its Enterprise Capital Fund.

Other backers include fund-of-funds Draper Esprit, Accelerated Digital Ventures, and wealthy individual investors.

Episode 1, founded in 2013, will use the money to focus on startups that are making the leap from seed stage to Series A, and aims to become the first institutional backer. Founding partner Simon Murdoch said Episode 1 would read more >>>

Source:: BusinessInsider.Com

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