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London-based Venture capital firm Crane Venture Partners launched a £112m fund backing early-stage deep tech startups. Particularly startups operating in areas including open-source, artificial intelligence, data, and developer tools industries.
Crane has already launched an early stage tech fund of £71.8m in 2019 making this fund their second. .Crane hopes around 50% of the money from the new fund goes towards UK-based startups, with the rest being spread across Europe, the US, and Israel.
Krishna Visvanathan, co-founder of Crane Venture Partners had the following to say on the fund:
“The future is being built today by passionate and diverse entrepreneurs from every corner of the world, and our funds focus on exactly those humans. We are in service of our founders and understand that entrepreneurship is a path to professional and personal realisation. When we focus there, the returns naturally follow.”
Across the two funds, Crane has a portfolio of more than 50 companies it has backed from the beginning to Series A funding. Including, open-source platform Gitpod, which raised £9.4m in funding in April 2021.
Other companies statements about crane:
In 2019 Crane made a $5.5m investment into Forecast. They’re a startup, that developed an AI-powered project management software, based in Denmark. Forecast CEO Dennis Kayser said the following about crane:
“Crane recognised what Forecast could be before nearly any other investor and they didn’t hesitate to dig in with us to get building,”
One of the firms backing the fund is British Patient Capital, which also backed Crane’s first fund. Judith Hartley CEO of the company had the following ton say on crane:
“Crane has established itself as one of the leading investors in UK and European deep-tech, and we are excited to continue our support as they back the businesses which will ensure the UK remains at the forefront of technology and innovation.”
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