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Phoenix Court Group Injects $500 Million in New Funds to Support Founders From Seed Stage to IPO and Beyond

  • Solar and Basecamp Expand Support for Founders Launching Global Technology Companies Currently Offered by LocalGlobe and Latitude Funds

  • The Phoenix Court Works Foundation is at the heart of the new vision: to innovate while having an impact

LONDON–(BUSINESS WIRE)–Phoenix Court Group, the European venture capital investor that invests primarily in the seed stage, is today launching new funds, worth $500 million, to help the founders of the world’s third largest innovation ecosystem and their teams to create world-class technology companies, supporting them from the seed phase to the IPO. The milestone marks a transition for Phoenix Court Group, which is now a long-term tech investor after gaining a global reputation for investing in early-stage startups that later became unicorns thanks to LocalGlobe. and Latitude. 1

Phoenix Court Group now offers four distinct funds, each targeting a stage of the market: LocalGlobe focuses on pre-seed and seed stages, and Latitude on start-up and early growth stage; the new funds, Solar and Basecamp, were previously funded internally and will now begin to be institutionalized. Solar is Phoenix Court Group’s fund focused on growing businesses, with the goal of supporting technology companies through IPO and beyond. Basecamp is a diverse community of over 50 emerging early-stage funds, Business Angels, and solo-GPs across Africa, Asia-Pacific, Europe, India, Israel, and the United States.

Thanks to these new funds, an additional 500 million dollars will be invested in New Palo Alto, this area four hours by train from central London which, in the last 5-10 years, has gone from being a “frontier” market reserved for the best investors around the world as the world’s most successful innovation ecosystem after the San Francisco Bay Area and Beijing, giving rise to world-class science and technology companies. Solar reinforces Phoenix Court’s commitment to tackling underinvestment in seed and scale-up funding, while Basecamp continues to exemplify, with the Newton Venture Program, Phoenix Court’s mission to support the next generation of leading investment firms while seeking to increase diversity in the venture capital investment industry.

Saul Klein, co-founder of Phoenix Court Group, said: “Despite being the third region creating high-growth private companies in the world, this region is still underserved by investors, particularly at the start-up and of scaling. We are witnessing here not only a significant lack of financing at the scaling stage, but also the fact that less than 20% of the capital invested at this stage is of national origin: when companies in our region are subject to acquisition or an IPO, UK pensioners and savers are missing out on this opportunity while their Canadian, Australian and Singaporean counterparts are benefiting. »

“Our vision is spread over 10 years for our investments. Given the access, knowledge and commitment we have through our LocalGlobe, Latitude, Solar and Basecamp funds, we continue to believe this is the ideal place to build innovative businesses and pave the way for a new era of ethical innovation. We’re not building the next Palo Alto, we’re building another. »

Along with this expansion of its family of funds, Phoenix Court Group has provided more details about Phoenix Court Works: its foundation supports organizations in London’s Somers Town borough, as well as Camden and New Palo Alto. Phoenix Court Works is funded through the attribution of 10% of Phoenix Court Group’s management company profits as well as 2% of carry forward of all funds. Phoenix Court Works has supported 23 organizations to date and has focused on three broad themes: Health and Wellbeing, Education and Inclusion, and Climate and Environment.

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1 Dealroom Data

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Sayula Kirby

Source: http://www.businesswire.com/news/home/202206200053…

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