Home Business News Octopus Ventures reaches £1bn milestone

Octopus Ventures reaches £1bn milestone

by LLB Reporter
8th Apr 19 10:58 am

Octopus Ventures, a leading European venture capital firm and part of Octopus Group, today launches a new £83m fund to back the most promising companies from across its portfolio.

The new fund enhances the team’s ability to back pioneering entrepreneurs, providing additional growth capital that will allow them to reach new heights.

This latest development takes Octopus Ventures’ funds under management to over £1bn, allowing the team to invest between £250,000 and £20m in start-ups with the potential to disrupt their industries and change the world.

Alliott Cole, CEO of Octopus Ventures said, “Today’s announcement means that we’re part of a small group of investors with the resources to support start-ups from inception all the way to international scale-up.

“Over the years, we’ve been lucky enough to work with some of the Europe’s most talented entrepreneurs – the people behind world-class businesses such as Zoopla and Secret Escapes, Big Health and Bought By Many. We back people we believe in, namely the pioneering entrepreneurs who are changing the world by disrupting industries. This is all about helping them grow their businesses faster and more effectively.

“We have always looked for new ways to support our founders and this latest fundraise will do just that – providing Octopus Ventures with the additional means to support the ambition and vision of the people that will change the world.”

Alex Saint, co-founder and chief executive of Secret Escapes Group said, “A lot has changed since 2011, when we first started working with the Octopus team. We had ambitious plans and were looking for investors that really understood what we were trying to build – a business that would not only disrupt but redefine the travel industry.

“Today, we have a team of 1,000+ people and operate in 21 countries across Europe, Asia and the US, while our membership has grown to over 60 million users worldwide.

“The continued support and investment from Octopus since the beginning has helped us build a rapidly growing global company. They are hands on and have provided strategic guidance on everything from recruitment and team building to helping us define our international strategy.”

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