Sussex Place Ventures
British Business Bank programme: Enterprise Capital Funds
Sussex Place Ventures backs UK technology companies. It provides early stage venture capital to ambitious entrepreneurs in software and digital companies and backs businesses with patent-protectable technology.
It is an independently managed venture capital company owned by London Business School. Sussex Place Ventures uses its unique access to the School’s alumni base and its network of entrepreneurs to secure well-referenced deal flow and sector advice and to help portfolio companies with strategic issues and customer acquisition.
In April 2014, Sussex Place announced the launch of a £30m venture capital fund to back early stage technology companies in the UK. Two thirds of the fund has been committed by the UK Government’s British Business Bank through its Enterprise Capital Fund programme, with a matching £10m from private investors, exited technology entrepreneurs, business angels and London Business School alumni.
The Fund, Regents Park Partners II ECF LP, will invest at an early stage in software companies, in businesses developing technology with strong patent-protectable intellectual property and in internet businesses.
Sussex Place Ventures will invest alone and in syndicates. The fund manager will use its close ties with alumni of the London Business School and entrepreneurs in its network to help with due diligence prior to investing, to help it add value to portfolio companies after it has invested and as a source of qualified deal flow. The fund will make seed investments (circa £250k) and also back businesses preparing to scale (circa £1m in first investments).
Richard Gourlay, Managing Partner of Sussex Place Ventures, said:
“We expect to be able to leverage our trusted network and bring valuable sector and execution skills to bear for the benefit of our portfolio companies and our investors.”
Ken Cooper, British Business Bank’s Managing Director, Venture Capital Solutions, said:
“Our VC solutions, such as the Enterprise Capital Funds, help to create investment capacity to back innovative high growth businesses that would otherwise face a funding gap. The Sussex Place Ventures team has a good track record in making such early-stage investments, and we are delighted to be able to back them with an investment in this new ECF Fund.”
Read our case study about how Sussex Place Ventures partnered with the British Business Bank Enterprise Capital Fund programme