London Technology Club launches $40m fund aimed at fast-growth tech companies
The London Technology Club (LTC), a community for investment opportunities in the technology sector, announces the launch of its third fund in three years aimed at scale-up tech companies – particularly in the AI, fintech and mobility sectors.
The fund will offer access to multiple direct co-investment opportunities and leading venture funds. It is targeting a capacity of $40m+ (£30.7m+) that will be deployed across 20 – 25 investments over a one-year period with a focus on high-growth tech companies in the US, UK, Europe, and MENA geographies.
In March, LTC announced its first exit facilitated by LTC Pledge Fund II. Robin.io, the cloud platform for large enterprises and service providers, was acquired by Rakuten Symphony, the telco-focused arm of Japan’s Rakuten Group, generating around 50% return in eight months.
LTC, grown as a community of club members, VCs, technology experts and institutional investors, has a track record of targeted investments following the deployment of their first two funds that raised $23m (£17.6) and $30m (£23m) respectively. LTC’s first fund, Pledge Fund I, within less than two years has returned 30% of capital back to investors and increased the value of its assets under management by almost two times.
LTC lists Revolut, Klarna and ATAI Life Sciences amongst its direct investment portfolio and has invested in funds led by White Star Capital, Clear Ventures, Blisce and Artis Ventures.
LTC’s advisory board includes Jim Mellon (Investor, Founder of the Burnbrae Group, Co-founder and Chairman of Juvenescence), Peter Brabeck-Letmathe (Chairman Emeritus, former Chairman and CEO of the Nestlé Group, former Chairman of Formula One and Board Member of the World Economic Forum), June Felix (CEO of FTSE 250 company IG Group, former President of Verifone Europe), and Martin Gilbert (Chairman of Revolut, AssetCo and Toscafund Co-founder & CEO of Aberdeen Asset Management 1983-2017).
Konstantin Sidorov, Founder, CEO and General Partner at London Technology Club, said: “The technology revolution of the 21st century has positively transformed the way we do business, shop, travel and receive healthcare, but for this rate of innovation to continue we must ensure that tech enterprises are backed with the growth capital they require.
“Our third fund will channel investment into the leading tech companies of tomorrow to enable them to reach their potential. The growth will generate long-term returns to investors, employment opportunities for the next generation, and the benefits of innovation to consumers, businesses and the community.
“The LTC has forged a position as a specialist hub for sophisticated investors and tech entrepreneurs, and we look forward to playing our part in reaffirming London’s status as a global centre of tech investment and innovation.”