Monzo backer welcomes retail investors
The group’s third private venture fund is its first to be open to the public
Passion Capital, an early investor backer of Monzo, is reportedly set to welcome retail investors with the launch of a £45m fund.
According to City AM, the group’s third fund will be open to “sophisticated” investors of “high net worth,” who are also registered with Seedrs, the crowdfunding platform.
The opportunity will reportedly provide retail investors with the chance to become a part of the venture fund that previously backed fintech company Monzo in 2015.
While investment in a private venture fund is “usually reserved for institutions,” the latest fund is open to the public through the European crowdfunding platform.
Eileen Burbidge, partner at Passion Capital, told the business publication: “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.”
With 11 investments already completed by the fund, a further 20 deals are being targeted by the venture capital group.
Retail Sector has contacted Passion Capital for further comment.
