Julie Meyer’s Ariadne announces first early-stage VC fund

Ten entrepreneurs back £20 million Ariadne Capital Entrepreneurs Fund for early stage ventures

By News Desk
7th September 2009 at 9:58

Julie Meyer announced Ariadne Capital Entrepreneur fundMore good news for early stage internet and mobile companies today as Julie Meyer, online Dragon and founder of Ariadne Capital, announces backing for a debut VC fund which aims to raise £20 million by the end of the year.

The first £250,000 to £1 million of the Ariadne Capital Entrepreneurs Fund (ACE Fund) will target ‘game-changing’ businesses – those investors consider to have disruptive technology, business models or market vision.

As well as Julie Meyer herself, backers of the fund include un-named investors from the London Private Equity world and the following entrepreneurs:

  • David Rowe, founder of EasyNet
  • Marc Worth, founder of WGSN
  • Rob Hersov, founder of Marquis Jet Europe
  • Michael Jackson, former Chairman of Sage, Partygaming and Access Intelligence, Founder of Elderstreet
  • Simon Capreis, gaming and betting private investor
  • Gerard Bonnevay, Board Director of Success Europe, Former Board Director of Credit Agricole and founder of Celimage

On announcing the fund this morning, Meyer said:

Ariadne Capital has developed a model whereby we bring the gutsiest entrepreneurs into our portfolio, and advise them effectively on the Go to Market, the Board alignment, Corporate Structure and High Growth Management. Our new ACE Fund helps us to take that expertise to the next level.

The ACE Fund launch follows a similar fund, ProFounders Capital, announced by Lastminute.com founder Brent Hoberman and Bebo founder, Michael Birch, earlier this summer which plans to offer £30 million to early stage web/technology businesses.

The ‘entrepreneurs funding entrepreneurs’ sector seems to be very active at the moment in the UK. Perhaps a sign of the times.

Definitely an interesting bridge between angel and VC funding proper.

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