Gousto investor MMC Ventures reveals £100m scaleup fund
MMC Ventures has today revealed the close of its first fund for re-investing in its own portfolio of mature companies at £100m.
The Scaleup Fund will provide capital to current firms in MMC’s roster that have outgrown the firm’s other funds, such as Interactive Investor and Safeguard Global.
MMC, which was an early investor in the likes of Bloom & Wild, Gousto and healthcare app Echo, has now raised £200m in the last 12 months alone alongside its £52m early-stage fund and annual EIS relief raise.
The firm relocated to Holborn earlier this year as it grows its team.
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“2019 has been a big year for our firm, and the launch of our new Scale Up Fund represents a scale up moment for MMC as well as a significant innovation in the UK venture market,” said Bruce Macfarlane, co-founder and managing partner at MMC.
“This fund allows us to double down on our most successful businesses while enabling our investors, and others, to take full or partial exits from early investments.
“We will continue to focus on our core specialism as a series A investor, but I am delighted we can support entrepreneurs with funding through their lifecycle, from the very beginning, through growth, then later stage expansion capital.”
Bluetower Associates acted as an adviser and placement agent to MMC for the Scaleup Fund’s raising.
Image credit: Gousto