Early stage tech VC firm MMC Ventures has announced a £100m MMC Scale Up Fund.
The new capital is designed to provide expansion capital to its portfolio of later-stage companies.
MMC Ventures is a research-led VC that has been backing early-stage, high-growth technology companies since it was founded in 2000.
In the last twelve months the VC has invested more than £100m across the pre-seed, seed, series A and later stages in amounts ranging from £100,000 to £25m, the largest investment from the Scale Up Fund to date.
Its existing tech investments include media monitoring platform Signal AI, which recently announced its $25m series C round, food waste app Gousto, and online personal shopping service Lookiero.
MMC led the $19m funding round for the Bilbao-based business to expand into the UK.
MMC said the Scale Up Fund can also participate in secondary transactions, offering liquidity to early MMC and third-party investors, allowing capital to flow back into the early-stage funding ecosystem.
“2019 has been a big year for our firm and the launch of our new Scale Up Fund represents a scale up moment for MMC as well as a significant innovation in the UK venture market,” said MMC Managing Partner, Bruce Macfarlane.
“This Fund allows us to double down on our most successful businesses while enabling our investors, and others, to take full or partial exits from early investments.
“We will continue to focus on our core specialism as a series A investor, but I am delighted we can support entrepreneurs with funding through their lifecycle, from the very beginning, through growth, then later stage expansion capital.”