News

July 27, 2022

Meet the UK’s largest pre-seed fund — with an 80% ethnic minority LP base

The fund secured a £30m commitment from the British Business Bank.


Eleanor Warnock

4 min read

Concept Ventures

The UK has gotten its largest ever dedicated pre-seed fund, as Concept Ventures (previously known as RLC Ventures) announces a £50m fund today. An impressive 80% of the fund’s LPs are from ethnic minority backgrounds and 18% are women. Pre-seed investing has dropped off in recent years — so are investors finally giving the earliest stages some love? 

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Eleanor Warnock

Eleanor Warnock is an advisor to VC firm Bek Ventures, and writes a newsletter on tech and writing. She was previously Sifted’s deputy editor. Find her on X and LinkedIn

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