Fuel Ventures: Closes New Fund, at $63.3M

Fuel Ventures Closes New Fund, at $63.3M

• Fuel Ventures, a London, UK-based pre-seed and early-stage venture capital firm, closed a new fund at $63.6m
• The new fund plans to back 60 U.K.-based tech startups over the next 12 months
• Led by Mark Pearson, founder and managing partner, the company is an early stage investor in technology companies in the UK
• The firm invests in early stage globally scalable marketplaces, platforms, software (SaaS) and transactional technologies
• The firm, which now has $112m in assets under management, is also opening up a workspace in central London to serve its portfolio
• Recent notable investments include OnBuy, Capdesk, OutFund, Heroes and Moot Group