Phoenix Court Group Introduces $500m Fund

June 22, 2022. By News Bureau

Early stage European venture capital investor Phoenix Court Group has introduced $500m in new funds to aid founders and their teams in the third largest innovation ecosystem globally, from seed stage to the public markets.

This denotes the seamless transformation of Phoenix Court Group into a lifestage tech investor, having solidified a global reputation for investing in startups at seed stage that go on to become unicorns through LocalGlobe and Latitude.

The company now consists of four distinct funds, all directed at a particular stage of the market: LocalGlobe that oversees the pre-seed and seed stage, Latitude focused at the breakout and early growth stage and the new funds, Solar and Basecamp - which were internally funded prior to this and will now begin to be institutionalised.

Solar is Phoenix Court Group’s scale-up fund aimed at fortifying tech businesses as they go 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.

Saul Klein, Co-founder, 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.”

The introduction of the funds mean that a further $500m will be invested 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 one of 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.

“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.”

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