Outward VC has successfully launched its second fund, securing £51 million to bolster early-stage fintech startups in the UK.
This initiative, backed by prestigious investors, signals a continued dedication to nurturing innovation and supporting entrepreneurs at crucial early stages.
Outward VC’s latest fund has garnered a significant cornerstone investment of £30 million from the British Business Bank. This contribution is routed through the Enterprise Capital Funds programme, renowned for empowering burgeoning UK-based venture capital managers.Moreover, this initiative has attracted a diverse array of private investors, underscoring its robust appeal within the industry.
Outward VC targets the intersection of financial services and key societal challenges, addressing areas like data privacy, healthcare, and education. By concentrating on early-stage founders, the fund aims to solve pressing issues at this pivotal convergence of finance and societal needs.
It’s a strategy designed to not only advance technological innovation but also to promote social responsibility and impactful business solutions.
Outward VC’s investment approach involves leading pre-Series A funding rounds up to £5 million.
The fund allocates a substantial portion for follow-on investments, aiming to support founders at crucial early-stage hurdles.
By committing to invest at least half of each round, Outward VC positions itself as a strong ally for startups navigating their first substantial growth phases.
Since its 2019 inception, Outward VC has consistently enabled founders to achieve extraordinary breakthroughs.
The firm boasts a portfolio of successful investments, including early stakes in companies like Bud and Curve.
Their strategic involvement has been instrumental in these companies’ significant growth and multinationals successes.
Primarily, this fund seeks to enhance founders’ early experiences by leading initial institutional funding rounds.
Its mission is fortified by personalized approaches, as described by Co-Founder Devin Kohli, citing Outward VC as ‘the first call’ during challenges.
This dedication has resulted in portfolio companies raising substantial follow-on funds, indicating Outward VC’s long-term impact.
The fintech industry, pivotal in job creation and financial inclusivity in the UK, benefits significantly from funds like Outward VC.
Janine Hirt, CEO of Innovate Finance, highlights the sector’s importance and the fund’s role in fostering innovation.
By supplying essential capital to early-stage founders, Outward VC sustains the growth and dynamism of the fintech landscape.
Outward VC’s £51 million fintech fund marks a vital step in supporting early-stage innovation within the UK fintech sector.
This commitment ensures promising startups continue to thrive and address societal challenges through financial services advances.
With its new fund, Outward VC reaffirms its role as a catalyst for fintech innovation and growth. The fund’s strategic focus on pivotal societal areas ensures that UK startups remain at the forefront of technological advancement.
