Business Wire

Phoenix Court Group Introduces $500m in New Funds to Support Founders From Seed to the Public Markets and Beyond

Share

Phoenix Court Group, the early stage European venture capital investor, today introduces $500m in new funds to help founders and their teams in the world’s third largest innovation ecosystem build world-class tech businesses, from seed stage to the public markets. This marks the transition of Phoenix Court Group into a lifestage tech investor, having established a global reputation for investing in startups at seed stage that go on to become unicorns through LocalGlobe and Latitude. 1

Phoenix Court Group now comprises four distinct funds, each aimed at a particular stage of the market: LocalGlobe focused on the pre-seed and seed stage, Latitude focused at the breakout and early growth stage and the new funds, Solar and Basecamp - which were previously internally funded and will now begin to be institutionalised. Solar is Phoenix Court Group’s scale-up fund focussed on supporting tech businesses on their journey from the private to the public markets, and beyond. Basecamp is a diverse community of 50+ emerging early stage funds, angels and solo GPs across Africa, Asia Pacific, Europe, India, Israel and the US.

The new funds mean that a further $500m will be invested in the opportunity in New Palo Alto - an area within a four-hour train journey of central London - which has moved in the last 5-10 years from being seen as a frontier market for the world’s best investors, to the most successful innovation ecosystem globally after the Bay Area and Beijing, producing world-class science and technology companies. Solar expands Phoenix Court’s commitment to addressing the underinvestment in funding at the breakout and scale-up stages, while Basecamp continues to demonstrate, alongside the Newton Venture Program, Phoenix Court’s mission to support the next generation of great investment businesses, while seeking to increase the diversity of the venture capital investment sector.

Saul Klein, co-founder of Phoenix Court Group: “Despite being the third best producer of high growth private companies globally, this geography is still underserved by investors, especially at the breakout and scale-up stages. Not only is there an acute funding gap at the scale-up stage here, less than 20% of the capital invested at that stage is domestic, so when companies in our region are acquired or move to the public markets, UK pensioners and savers miss out, while their Canadian, Australian and Singaporean equivalents benefit.”

“We have a 10 year view on investing and given the access, insight and engagement that we have through our LocalGlobe, Latitude, Solar and Basecamp funds, we continue to think that this is a great place to build innovative companies and also pioneer a new era of ethical innovation. We’re not building the next Palo Alto, it’s a different one.”

In expanding the fund family, Phoenix Court Group is also sharing more details around Phoenix Court Works, its foundation which supports organisations in the London neighbourhood of Somers Town, as well as more broadly in Camden, and New Palo Alto. Phoenix Court Works is funded through the allocation of 10% of profits from Phoenix Court Group’s management company and 2% of carry from all the funds. Phoenix Court Works has supported 23 organisations to date, focused on three core themes of health and wellbeing, education and inclusion, climate and the environment.

- ends -

1Dealroom data

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

sayula@burlington.cc
Sayula Kirby

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

SINOVAC joins hands with HKU-CTC research team and Gleneagles Hospital Hong Kong to kick off a clinical trial of an Omicron-specific inactivated vaccine for booster use in Hong Kong, China4.7.2022 14:30:00 EEST | Press release

A kick off ceremony was held at Gleneagles Hospital Hong Kong (Gleneagles or GHK) for initiating a clinical trial to assess the safety and immunogenicity of the SINOVAC’s Omicron-specific COVID-19 inactivated vaccine used as a booster shot in healthy adults, in anticipation of providing scientific evidence for future immunization strategy. This study is led by a medical research team of the University of Hong Kong Clinical Trials Centre (HKU-CTC) in collaboration with Gleneagles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220704005146/en/ [From right to left] Professor Ivan Hung Fan-ngai, Ru Chien & Helen Lieh Professor in Health Sciences Pedagogy, Clinical Professor and Chief of Infectious Diseases, Department of Medicine, School of Clinical Medicine, Assistant Dean (Admissions), LKS Faculty of Medicine of The University of Hong Kong; Dr Kenneth Tsang, CEO of Gleneagles Hospital Hong Kong; Ms. Cheryl Law, International

BearingPoint Appoints 19 New Partners Across Europe4.7.2022 10:58:00 EEST | Press release

Management and technology consultancy BearingPoint announced today that it has appointed 19 new Partners across Europe. 14 Partners have been internally promoted, and five Partners joined BearingPoint from outside the firm. The appointments underline the firm’s ongoing success and growth and the ambitions defined in its Strategy 2025: putting people in the center, outperforming the market every year, and being in the top three in chosen areas of expertise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220704005035/en/ Kiumars Hamidian, Managing Partner BearingPoint. (Photo: Business Wire) Kiumars Hamidian, Managing Partner BearingPoint, said: “It is a real pleasure that we were able to promote internally 14 new Partners to our Partner-led firm. All of them have reached this important milestone based on their exceptional abilities, deep industry expertise and outstanding commitment to serving our clients. In addition to our

VOOPOO Unveils 3 New Products, Telling Story of Its 8-year Entrepreneurship Journey in 30 Minutes4.7.2022 10:15:00 EEST | Press release

VOOPOO’s 2022 "More Than Infinity" virtual product launch was held on June 29, 2022, where VOOPOO took 30 minutes to review its brand story during the past 8 years since its founding, expounding the connection between the “infinity symbol” and the brand spirit and demonstrating its commitment to creating infinite new possibilities using technology in 3 chapters. Meanwhile, the event was highlighted by 3 POD products featuring VOOPOO’s most cutting-edge technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005586/en/ Infinite innovation: The new product launch, backed by atomization platforms and chip development, manifests VOOPOO’s R&D strength. (Graphic: Business Wire) A very important theme at the virtual event was telling the growth story of VOOPOO since its founding 8 years ago. Evolving from an atomization chip solution provider to today’s industry leader of open electronic atomization, VOOPOO has driven the

AGILA Pet Insurance becomes part of JAB Backed Pinnacle Pet Group, to create a Leading Pan-European Pet Insurance Platform4.7.2022 10:00:00 EEST | Press release

JAB Holding Company ("JAB") and WERTGARANTIE Group today announced a strategic partnership whereby JAB's European pet insurance platform, Pinnacle Pet Group ("PPG") will acquire 100% of the shares in AGILA Tierversicherung AG (“AGILA”), the German market leader in pet insurance, from the WERTGARANTIE Group. In return, the WERTGARANTIE Group will become an investor in PPG. The transaction is expected to close in Q4 2022, subject to customary closing conditions, including regulatory approvals. The parties have agreed not to disclose the financial details of the transaction. With JAB’s support, PPG will be built into a leading Pan-European platform for animal insurance through strategic investments and organic growth. The WERTGARANTIE Group will also continue to support PPG successful German activities as a relevant shareholder. AGILA will be an essential component of PPG's expansion. All employees at the Hanover headquarters will join the platform and will play a key role in PPG’s expans

Port Decarbonization: the First High-powered Hydrogen Barge for the Electrification of Ships at Berth4.7.2022 09:00:00 EEST | Press release

Hydrogène de France (“HDF Energy”) – Euronext Paris: HDF – and its partners of the ELEMANTA H2 project announce the signature of an MoU to deploy mobile solutions providing, from green or low-carbon hydrogen, cold ironing services complementing the electrical grid, for container ships, cruise ships or tankers. ELEMANTA H2 will also enable hydrogen bunkering to meet the refueling needs of future hydrogen ships. Maritime transport accounted for 13.5% of European total greenhouse gas emissions in 2018. In order to reach the European objective of reducing greenhouse gas emissions by 55% by 2030, the sector must accelerate its energy transition. ELEMANTA H2 aims to contribute to the decarbonization of port activities. The partners have identified the Port of Rouen and the Rubis Terminal location as a pioneer site because of its strategic position close to Paris. With the support of Normandie Energies and the port operator HAROPA, a demonstration barge will embed a high-power hydrogen fuel c

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom