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Home Business & Finance London’s Stride VC raised second $138.6M seed fund, hunts for third partner...

London’s Stride VC raised second $138.6M seed fund, hunts for third partner – TechCrunch

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Summary (IA Generated)

Stride VC, a London-based seed investment fund, has raised its second fund, which will be £100M ($138.

The fund will invest primarily in London startups but also look at select European opportunities.

Stride said some 80% of this new fund came from returning LPs, and 20% from two new unnamed institutional investors.

Stride does not have any public or government investment.

Investors include the founders of Cazoo, King, Pillpack, Dott, and institutional investors such as Delin Ventures, Draper Esprit, Mubadala, and CNP (Groupe Frere).

Stride founder Founder Fred Destin told me that while the fundraising was planned for June, the two new unnamed institutional investors “reached out in January, and confirmed their intention to invest around mid-Feb after a quick diligence process.

The successful podcaster about VC, Harry Stebbings, who co-founded Stride with Destin, departed amicably in early February to set up his own fund.

Cleo Sham is the new partner joining full-time in June, as announced on Twitter.

Destin also told me he will be looking for a new third partner for the fund, and two more team members: “I’m mainly looking for exceptional talent.

Destin says Stride remains “firmly committed to Seed”, usually leading or co-leading a funding round.

But that it will also expand from pre-seed funding with £250K checks to sometimes larger investments in companies like Huboo where it invested £4.

Destin describes the fund as “artisan venture capital” where it invests in “small batches”.

Over a call, he added: “We don’t take board seats, we prefer to provide something to the founders that’s meaningful to them.

Stride’s Fund I has backed 29 companies so far.

Destin told me: “We don’t necessarily think it’s helpful for companies to be announcing what they do and what they’ve raised.


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