London-based VGC Partners is launching its GBP1 million Technology Seed Fund IV, headed by Parminder Basran, which looks to invest in early stage, tech companies which are addressing corporate innovation challenges.
The UK is home to a growing number of developers, solution providers, agencies and manufacturers that are building their business around voice technology. The funding will enable them to hire new designers and engineers, along with marketing their products. In addition, these start-ups will also be eligible to participate in Amazon’s Alexa Incubator Programme.
Under this scheme, Amazon offers technical and business mentorship to voice start-ups, including those receiving seed capital and business mentorship from local venture capital firms like VGC.
VGC Partners will continue the relationship built over its first three SEIS funds with Zag, the venture arm of international advertising agency Battle Bogle Hegarty (BBH), and a selection of other corporate partners, which will help to source deal flow and offer support to portfolio investments. Taking advantage of the Seed Enterprise Investment Scheme (SEIS), the Technology Seed Fund IV will target up to 10 investments in FMCG, health and wellness, sustainability, digital media, e-commerce and fintech businesses.
Parminder Basran, Founder and Managing Partner at VGC Partners, says: “As a growth capital investment firm, we want to support new companies built around the voice economy, and this is an excellent opportunity to help British voice start-ups take their business to a level where they can raise follow-on capital from VGC Partners, other venture capital investors or corporate companies.”
