A brand new £10m funding fund that goals to be Europe’s reply to Y Combinator has been launched by London-based group Onstage.
Identified for its Demo Day occasions that repeatedly pull in hundreds of startups from Europe and put them involved with high funds from Europe and the US, Onstage believes it’s nicely positioned to make the leap to fund operator.
“We are able to all agree the world doesn’t want one other enterprise fund,” the corporate stated in its announcement of the fund.
“Nonetheless, what it wants is a price proposition that begins from an issue each founder encounters: the time-consuming, painful strategy of fundraising.”
The group stated the fund was a pure subsequent step for it. Onstage stated its Demo Day finalists have collectively raised over £500m from buyers, with notable alums together with Lawhive and Scan.com.
Onstage stated it goals to make round 80 investments over the subsequent three years focusing on pre-seed and seed stage rounds.
Its first fund contains funding from Peter Simon, president of US funding agency Simon Sports activities, in addition to LPs together with companions from Idea Ventures, Creator Ventures, Chapter One and Episode 1.
