MMC Ventures closed 18 deals and attracted more than USD100m in total investment into its portfolio in 2013.
One of the top five most active VCs in the UK, MMC welcomed nine new companies into its portfolio this year.
Research compiled by Ascendant showed that, despite overall falls in UK technology venture capital deals in Q3 2013, MMC bucked the trend and was listed as one of the most active investors. A separate report from UKFunders listed MMC as the top retail investor for the first nine months of 2013, with over 10 per cent of deals in the space. This continues MMC’s track record as one of the top three most active early stage investors as rated by both firms in 2012.
During 2013 MMC invested in 18 companies, including: Appear Here, Boticca.com, Gousto, Invenias, Love Home Swap, Masabi, MBA & Company, NewVoiceMedia, Somo, Tyres On The Drive, Wedo and Wool and the Gang. The deals attracted co-investment in every case, mostly from international institutional investors.
2013 also saw the launch of the MMC London Fund, in partnership with the Mayor of London; a successful EIS fundraising season; and the hire of three new team members. In addition, seven MMC portfolio companies were included in the Silicon Valley Comes to the UK 100 Club.
MMC will kick-start 2014 by re-launching its Growth Generation Fund, opening up low-cost access to world class investment opportunities for investors under-35.
Simon Menashy, investment manager at MMC, says: “Right now we're seeing better deal flow than ever before, as the increase over the last few years in entrepreneurial activity and seed funding results in a lot of fantastic opportunities at early stage and Series A.”
