Episode 1 raises new £60m fund from British Business Bank’s Enterprise Capital Funds programme to invest in UK seed companies

LLB Reporter

Source: Picture Alliance/Photoshot

Ex-Amazon UK CEO raises second early stage tech fund of £60m

Episode 1, the backer of successful companies like Carwow, Triptease & AimBrain, today announces the closure of its second UK seed-to-Series A fund, raised to help passionate teams turn innovative insight into scalable operations. It leads rounds of £500k to £2m into teams with real insight into markets that are emerging or evolving.
 
The fund is a £60m Enterprise Capital Fund (ECF), raised with the support of the British Business Bank, the UK government’s economic development bank. As the largest UK-based investor in UK venture capital, the bank seeks to unlock the innovative potential of Britain’s small and medium sized enterprises.
 
The new fund is 60 per cent bigger than the Episode 1’s first ECF, and oversubscribed, despite relatively tough economic times.
 
Paul McNabb, co-Managing Partner of Episode 1, believes this is testament to the value founders place in Episode 1’s ‘Company Builder’ methodology, and the quality of returns investors see this strategy producing, commenting: “There is no shortage of funds for the best entrepreneurs, but in our experience much of it is undifferentiated - there are few investors with the commitment to roll up their sleeves and get on with the heavy lifting that turns innovation into operations”
 
“We realise that for companies at this stage, the next handful of decisions they make are potentially transformational – and we plan to be there to help”.

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