FIGR Ventures, a brand new UK-based household workplace fund, has introduced their official launch to spend money on early-stage, mission-driven startups which might be reshaping the patron sector.
Backed by a non-public household workplace and co-founded by Fiona Humphries and Ellie Craig, FIGR focuses on supporting companies that ship measurable constructive environmental or social affect.
Fiona Humphries, FIGR’s Managing Director, will lead on technique, operations, driving the due diligence course of and making ultimate funding choices. As FIGR’s Portfolio Director, Ellie Craig shall be liable for figuring out and assessing funding alternatives, and acts as the principle level of contact for all potential and portfolio
The fund will sometimes make investments between €241k and €361k on the pre-seed and seed levels, concentrating on corporations that align with its three classes of ‘changemakers’:
- Switchers: Offering options to environmentally or socially dangerous shopper items. FIGR will search out corporations creating high-quality, guilt-free merchandise individuals truly need to use, from sustainable skincare and cleansing merchandise to moral jewelry and meals.
- Enablers: Creating the instruments customers and companies must make extra sustainable and moral decisions. The
fund will again founders growing applied sciences, supplies and processes making it simpler for all of us to do higher, from AI-enabled sustainable procuring to eco-friendly packaging. - Solvers: Creating groundbreaking options to unsolved issues affecting customers’ lives. FIGR will spend money on companies tackling actual issues for actual individuals, which might embrace schooling, healthcare, femtech and extra.
FIGR plans to make 5 to 6 investments every year, deliberately protecting the portfolio dimension small to permit its lean group to offer hands-on help to founders.
In keeping with FIGR, it’s their group’s in depth expertise in shopper sectors, small enterprise progress, and impact-driven initiatives that units them aside. Talking about their imaginative and prescient, Fiona Humphries acknowledged: “We began FIGR as a result of we consider the easiest way to drive constructive environmental and social change is to mix charitable grants with investments into high-potential, impactful companies. We’ll be all potential investments by way of the lens of their affect, and occupied with their potential to scale sustainably and profitably. We’re hoping to seek out superb early-stage companies and develop them from startups into market leaders.”
Ellie Craig, Portfolio Director, added: “We’re actually excited to companion with bold founders and supply tailor-made help to assist them to develop their companies. On the early levels we’re specializing in, the founders are an important a part of our funding choices. We’re backing good individuals and empowering them to construct nice companies.”
FIGR Ventures’ advisory group contains Nic Humphries, Senior Accomplice at Hg; Richard Chapple, Co-Founding father of The Development Basis; and Richard Johnson, Affect Advisor at Volans, amongst others.