From an equity investment perspective 2020 ended with fireworks. We saw the launch of two new Bristol-based investment funds, and we ended the year with some pretty punchy equity raises for companies across the early and later stages of growth
Sparkling Investment Fund News
Newable and BPEC announce significant fund news – Newable Ventures and Bristol Private Equity Club (BPEC) have secured £10m in new funding from British Business Investments, a commercial subsidiary of the British Business Bank, to fund early stage businesses across the UK.
Science Creates Ventures announce a new EIS fund – Science Creates Ventures launches with its first fund, a £15 million venture capital fund offering start-up investment. The fund is supported and backed by successful Bristol-based entrepreneurs behind some of the South-West’s biggest deep tech exits.
Graphcore secures $222m in their series E funding round – Graphcore, the Bristol based unicorn, has raised $222m of investment to help support the company’s continued global expansion and further accelerate future IPU silicon, systems and software development.
Brightpearl secures £33m series C funding – Brightpearl, a historic SETsquared Bristol member which allows retailers to streamline their operations thus boosting sales, has raised $33 million in funding to scale its business. Their Series C round was led by Sage, which has put $23 million into the UK company.
XCD HR secures £2m from BGF – Founded in 2011, XCD has grown to service 30,000 users across 35 countries. Headquartered in Bristol, this historic SETsquared Bristol member has a growing workforce of more than 70 employees delivering world-leading, single solution HR and Payroll solutions for clients spanning not-for-profit, private and public sectors.
Bath-based Living Map secures £850k – The digital map and data platform, LivingMap, has completed an £850,000 funding round led by existing investors Committed Capital and Mercia Asset Management. The funding will allow the Bath-based company to further enhance its technology and support the continued roll-out of its new service to guide passengers transferring between flights at airports.
And there’s more…
A further 5 companies raised a little over £2.5 million between them in rounds that are as yet undisclosed.
The Investment Activator Programme
The Investment Activator Progamme is a 2 year pilot funded by 8 organisations, including Engine Shed, and run by TechSPARK to support the growth and development of our equity investment ecosystem locally in the South West. Our activities include events for investors, data wrangling to support founders to find investors, pitch development support and pitch competitions.
Over 2020 the Investment Activator Programme directly supported over 120 companies through our flagship activities. Nearly 80 companies submitted their one-page executive summary for investors attending the Quarterly Investment Briefing events, over 130 companies applied to participate in Silicon Gorge and over 20 received thoughtful feedback on their pitch at our PitchMe lunchtime sessions.
This article is written as part of the Investment Activator Programme (IAP) in the West of England. This programme is run by TechSPARK and is kindly sponsored by TLT LLP, delaware, Smith & Williamson, West of England Combined Authority, UWE, Sanderson, Engine Shed and Rocketmakers. Find out more about the IAP: https://engine-shed.co.uk/news/uk-first-as-bath-bristol-create-investment-activator-programme/
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And finally, if you are raising investment for your business and you would like to submit your one page proposition for the next QIB event, please find more information at the bottom of this page: https://www.scaleupgenerator.co.uk/articles/qib-101