FIGR Ventures, a brand new UK-based household workplace fund, has introduced their official launch to spend money on early-stage, mission-driven startups which can be reshaping the buyer sector.
Backed by a non-public household workplace and co-founded by Fiona Humphries and Ellie Craig, FIGR focuses on supporting companies that ship measurable optimistic environmental or social affect.
Fiona Humphries, FIGR’s Managing Director, will lead on technique, operations, driving the due diligence course of and making last funding selections. As FIGR’s Portfolio Director, Ellie Craig will probably be liable for figuring out and assessing funding alternatives, and acts as the principle level of contact for all potential and portfolio
The fund will sometimes make investments between €241k and €361k on the pre-seed and seed levels, concentrating on firms that align with its three classes of ‘changemakers’:
- Switchers: Offering alternate options to environmentally or socially dangerous shopper items. FIGR will search out firms creating high-quality, guilt-free merchandise individuals truly need to use, from sustainable skincare and cleansing merchandise to moral jewelry and meals.
- Enablers: Creating the instruments shoppers and companies have to make extra sustainable and moral selections. The
fund will again founders creating applied sciences, supplies and processes making it simpler for all of us to do higher, from AI-enabled sustainable buying to eco-friendly packaging. - Solvers: Creating groundbreaking options to unsolved issues affecting shoppers’ lives. FIGR will spend money on companies tackling actual issues for actual individuals, which might embody schooling, healthcare, femtech and extra.
FIGR plans to make 5 to 6 investments annually, deliberately conserving the portfolio dimension small to permit its lean crew to offer hands-on assist to founders.
In accordance with FIGR, it’s their crew’s in depth expertise in shopper sectors, small enterprise progress, and impact-driven initiatives that units them aside. Talking about their imaginative and prescient, Fiona Humphries acknowledged: “We began FIGR as a result of we imagine one of the simplest ways to drive optimistic environmental and social change is to mix charitable grants with investments into high-potential, impactful companies. We’ll be all potential investments by the lens of their affect, and eager about their potential to scale sustainably and profitably. We’re hoping to search out superb early-stage companies and develop them from startups into market leaders.”
Ellie Craig, Portfolio Director, added: “We’re actually excited to companion with bold founders and supply tailor-made assist to assist them to develop their companies. On the early levels we’re specializing in, the founders are a very powerful a part of our funding selections. We’re backing good individuals and empowering them to construct nice companies.”
FIGR Ventures’ advisory crew consists of Nic Humphries, Senior Associate at Hg; Richard Chapple, Co-Founding father of The Development Basis; and Richard Johnson, Impression Advisor at Volans, amongst others.
