Passion Capital, an early-stage tech VC firm, has listed its Passion Capital Fund III on Seedrs. Registered investors on the Seedrs platform will have the opportunity to invest in the £45 million fund. Seedrs reports that this partnership is the first time a Europe-based private VC fund is opening up to crowd investors.
Passion Capital’s third fund includes new General Partner Malin Posern, who joins existing partners Robert Dighero and Eileen Burbidge.
Investors on the Seedrs platform who self-certify as either “high net worth” or “sophisticated” investors may invest in the fund. To date, Passion Capital has made 81 tech investments in companies worth more than £3 billion, including Monzo, GoCardless, Butternut Box, Adzuna, and Marshmallow.
Passion Capital has already made 11 new investments from Fund III, which Seedrs investors will automatically be part of, with a further 15-20 new investments to be made.
Eileen Burbidge, Passion Capital partner and a high profile global VC, stated:
“Investment into a private venture fund is usually reserved for institutions. We are throwing our doors open to a much wider range of investors in this unique collaboration with Seedrs as we look to diversify our investor base and increase access for investors who might be interested in partnering with us. This way their single investment will be applied across a range of world-class entrepreneurial talent, rather than through the direct single company investment traditionally made through equity crowdfunding campaigns.”
Jeff Kelisky, CEO at Seedrs, said the partnership is a very innovative collaboration for both the VC and the investment crowdfunding sector.
“We’re thrilled to be supporting Passion Capital in this activity. It presents our community with another avenue to participate in SME equity finance that delivers additional investment opportunities and the potential for exceptional returns, beyond the direct investment campaigns we also run.”
Seedrs is currently accepting pre-registration for the fund that has an initial allocation of £350,000.
Since its launch, Seedrs reports over £1.2 billion funding more than 1200 deals on the platform. The inclusion of more institutional-type offerings is of strategic importance for the growth of the platform.
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