London-based venture capital firm, Giant Ventures, known for its cross-Atlantic investment strategy, is set to deploy two new funds totaling $250 million. The latest funds, a $100 million seed fund and a $150 million climate-focused growth fund, follow the success of their previous $100 million fund.
Giant Ventures specializes in supporting startups across diverse sectors, including climate, health, and what they term as “purpose-driven” enterprises, aligning with the concepts of impact or mission-driven initiatives. The firm has already made 10 investments through these new funds, backing companies like mental health app Calm, carbon removal platform Agreena, energy storage startup Field, and health industry startup Doccla.
Led by Cameron McLain, an exited founder, and Tommy Stadlen, co-founder of Swing Technologies (acquired by Microsoft), Giant Ventures distinguishes itself by being led by former founders and operators, offering a unique perspective in a European ecosystem where the majority of venture capitalists lack startup experience.
Stadlen emphasized the transatlantic nature of the fund, allocating half of the capital to European companies, including the U.K., and the other half to U.S. companies. The firm has a presence in London, Copenhagen, Stockholm, New York, and California.
The advisory board boasts influential figures such as former BP CEO Lord Browne, former British Foreign Secretary David Miliband, and 23andme founder Linda Avey. Giant’s LPs include notable names like BMW, Henkel, RIT Capital Partners, Cambridge Associates clients, Stepstone, Denmark’s sovereign investment fund, The Nature Conservancy (U.S.), and Sir Richard Branson.
This news is a positive development for the U.K., which has faced challenges in attracting private investment. Despite the recent initiatives to boost startup investment, the impact is expected to take time to permeate through the ecosystem. The European VC landscape has been affected by a weak economy, experiencing relative stagnation over the past two years, with 2023 witnessing a decline in startup investments to $45 billion.
In contrast, North American investors are scaling back, with notable names like Omers and Coatue reducing their activity. Against this backdrop, Giant Ventures’ $250 million raise signals confidence and commitment to fostering innovation on both sides of the Atlantic.
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