Tom Savage

Think the UK start-up ecosystem is slowing down? Think again. A handful of early-stage companies you’ve likely never heard of are quietly growing at breakneck speed Here’s the top 10 fastest growing early-stage start-ups in 2024 👇 1) Zevero | Making zero emissions a reality 2) YeagerAI | Framework for Collaborating AI Agents 3) Granola | LLM-powered workspace of the future 4) Capi Money | Payments for importers in Africa 5) Gensyn | The Machine Learning Compute Protocol that unites the world’s compute into a global machine learning supercluster 6) Recraft | Create visually consistent graphics 7) Borderless | The world’s workforce migration platform 8) amarti | Where people and technology come together 9) Stacklok | Eliminate risk before code is merged 10) Orbital | AI to design and deploy advanced materials Link to the top 30 in the comments 🔗 Note; calculated by tracking every start-up in the UK (10-50 people) and calculating their % headcount growth across 2024

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South Coast Startups: This is your moment!! I’ve got an incredible opportunity for startups on the South Coast of England. We’re talking intros to top-tier mentors and serious cash for growth—whether that’s through equity or loans. I’m on the lookout for standout startups to match with angel investors, CCs, and Ultra High Net Worth individuals who are ready to back the next big thing. If this sounds like you—or someone you know—tag them, DM me, or drop me an email at [email protected]. Let’s take your startup to the next level! #StartupLife #Entrepreneurship #Fundraising #VentureCapital #AngelInvestors #GrowthHacking #BusinessGrowth #Innovation #SeedFunding #ScalingUp #StartupJourney #EquityFunding #Disruptors #FounderLife #StartupCommunity #BusinessFunding #StartupMentorship #InvestorReady #PitchToInvestors #DreamBig

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We have just posted a blog about 'SDR fund labels – what are we hearing?' It is too long to reproduce in full here, so I am sharing the first few paragraphs. (The full text is freely available via https://lnkd.in/erxVuefP ) === The adoption of #sustainable fund labels is big news at the moment, particularly as we approach the 2 December ‘Naming and Marketing’ deadline, which require additional caution when fund managers make sustainability related comments and claims. (See full #SDR rules) Much is changing, but a key driver of current activity is that unlabelled funds will no longer be able to use the words ‘sustainable, sustainability or impact’ (or similar) in their names – although the FCA announced temporary ‘flexibility‘ in September (essentially a four month extension) for relevant funds that had submitted an application to them amending disclosures in line with ESG 5.3.2R by 1 October 2024. Evidence that we have gathered from fund mangers suggests however that we are now in a period of immense activity and change. We have sought to capture this via a range of ‘SDR labelling’ filter options on our (open and free to access) Fund EcoMarket database. Some of the current key numbers (to date) are as follows: - 103 fund managers have told us they are working towards adopting labels for named funds (we view this as a likely underestimate). - 176 funds have told us they are ‘not eligible’. (It is important for financial advisers and others to understand that many funds are not yet able to use the new labels, for example because they are offshore). - The managers of 13 funds have told us they are ‘intentionally unlabelled’ – in other words, their funds are probably ‘in scope’ – and may well be appropriate for those seeking funds that take sustainability seriously – but the manager has decided not to pursuing a label at present. (This may relate to approval process concerns.) - Fund EcoMarket shows 2 labelled funds (we expect this to increase soon). (The funds are searchable on our database here https://lnkd.in/eEn9q5pA) What else are we hearing? We understand that around 11 funds have achieved labels. 2 of these are labelled as such on our database. Some funds have asked us to hold back their labelling status until they ‘go live’ (eg aligned literature / ready to press ‘go’.) Many strong funds are in the labelling process (which starts, in many cases, with the need to amend the fund prospectus) but are struggling to gain labels because of what we view as (sometimes rather extreme) teething issues. ‘Broad based’ (comprehensive, complex) sustainable funds appear to be the most affected. The FCA has listened to feedback and sought to ease these with a recent notice giving disclosure examples, however we believe there is more to be done in this regard if we are to maximize the potential benefits of SDR.

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Great to see SIS Ventures make this list by TechRound https://lnkd.in/eDtRbggM A bit more about what we look for below. If you're a founder and these hit the mark 👇 then please get in touch Investment targets SIS Ventures is focused on high-impact, high-growth potential businesses our investee companies are innovation-led, often spun out of Scotland’s leading university innovation programmes. Portfolio companies are also carefully selected for their commitment to developing their environmental, equality and diversity, social impact and governance practices. SIS Ventures seeks to provide equity investment to: ✔ High growth potential with a global scale and intent to provide significant impact ✔ Focus on social and/or environmental impact, aligning with impact themes / at least one of the UN SDGs ✔ Product or service backed by defensible technology or proprietary know-how ✔ EIS or SEIS qualifying ✔ Low capital-intensive businesses ✔ Sector agnostic, but historically invested across Life Sciences, MedTech, Climate Tech, Circular Economy, Biotech ✔ Pre-seed – Series A ✔ Headquartered in Scotland

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“Global economic uncertainty, political instability, and the ravages of the pandemic all impacted investor confidence in London. Yet my company, Abound and Render managed two of the largest fundraising rounds in London and Europe in recent years amid these significant pressures.”    I recently shared my top tips with UKTN on raising capital in London in the tech sector:    1️⃣ Master your narrative: Investors need to believe in your vision. Effective storytelling is key, especially when you’re new. 2️⃣ Focus on profitability: Great ideas are only part of the equation—building a solid, profitable business is crucial. 3️⃣ Meticulous execution: Preparation is everything. Anticipate investor questions and respond swiftly to stay ahead.

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Lots of activity in the Media for Equity space in this autumn, and just in the last two days we have had some great news, one coming from the UK and second from Australia. 🫡 dmg ventures has announced the launch of their new fund with 50M GBP in cash capital, as well as their traditional media credits. They plan to invest into European as well as US-based startups, from two separate funds: "The Headline Fund will target startups between seed and series A, while the second, the Scale Fund, is for more established startups. The Scale Fund has already made two investments, into Trip, a UK maker of sparkling drinks that contain CBD, and Blue Stripes, which makes cacao-based products by reusing the fruit that is wasted by the chocolate industry." - Global Corporate Venturing The second announcement is coming from the Scaleup Mediafund, "backed by investors including News Corp Australia, NOVA Entertainment, Foxtel Group, REA Group, and oOh! Media and has committed over $45 million in advertising and marketing inventory to support the Australia's startup ecosystem. The two new investments are, Naked Life, a non-alcoholic cocktail drinks business, and Settle Easy, an online property conveyancing platform. 💪 These are great news for the media for equity, media capital, media credits or may you call it media investments, and great new set of proof points for the investment model. #MediaForEquity #MediaCapital #MediaCredit #MediaInvestments cc: Flavius Floare Borderbridge

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CLOSING EARLY - LESS THAN 36 HOURS REMAINING 🚨 The support we've received for our Crowdcube campaign has been truly incredible. After reaching our funding target in just 2 hours after opening the early access window, we've now reached an amazing milestone - 200% overfunded in less than two weeks. Due to the overwhelming demand, we are having to close the campaign EARLY! The campaign will close tomorrow at 11:59pm on the 22nd of October, meaning there's now less than 36 hours left to invest and join us on our journey. Link to the pitch page: https://lnkd.in/euaKnEj3 Please do feel free to reach out to me directly if you do have any questions. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more: https://lnkd.in/enVX8jsy

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Want to join a WhatsApp community of supportive fellow fundraising founders? To enhance collaboration, networking, and learning as our Hotbed community grows, we’ve updated how our WhatsApp groups work, and the good news is we're now open to all fundraising founders 🎉 We started cohort specific WhatsApp groups 2.5 years ago when we launched our first programme. 11 cohorts WhatsApp groups later for over 600 founders, we're unifying the groups so graduates can learn from peers across cohorts, and new founders within the wider Hotbed community of 3000+ founders can join the conversation. We have two new WhatsApp groups, 🤑 *Dedicated group for founders raising a seed round* For founders that have raised at least £150k F&F / pre-seed and are actively raising a seed round. 🤝 *Overall Hotbed Founders Community Group* Open to all founders across the Hotbed community, where you can share questions, achievements, and news with a larger community. Want to get involved? Fill out this quick form with your details and we'll send you the link https://lnkd.in/eVUS6FJb

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A huge first step in closing the female funding gap in VC - the Invest in Women Taskforce announced a massive £255M fund to back female investors. Why? 🚨Appallingly, less than 2% of equity funds go to women founded businesses - a challenge I saw first hand when building a tech startup in London in the 2010s with a female co-founder (the unstoppable Brynne Kennedy) 2✖️Women investors are twice as likely to back women than male investors (we need more female GPs starting firms and sitting on ICs) 📈£250 Billion (that’s a B) could be added to the UK economy alone by backing women I was lucky enough to join the wonderful launch event last night at Mansion House. The energy was palpable and the room was full of powerful women leading the charge. Excited to see where it goes from here and a huge congrats to taskforce co-chair (and Smart Society Ventures advisor 💪), Debbie Wosskow, OBE

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Founders: How confident are you in your valuation game? Valuing a startup is tough - it’s hard to know if you’re leaving money on the table or pricing yourself out. On 27th November, 12:30 PM at The Ministry in Borough, I’m hosting a free session to break down the stuff that actually matters for founders looking to nail their valuation and keep control. Expect straight talk, no fluff, and real tactics that you can use, like: - What makes investors really buy into your valuation - How to avoid rookie mistakes in equity negotiations - Balancing that “big dream” with realistic numbers that work for funding 🗓 When: 27th Nov, 12:30-1.30 PM 📍 Where: The Ministry, 79-81 Borough Road, London 🔗 Register here: https://lnkd.in/d_8cna7z This session is about more than numbers - it’s about building a valuation strategy that aligns with where you want to take your startup. Join us if you want to get this right - grab your free spot! 🙂

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CALLING ALL FOUNDERS AND BUSINESS OWNERS 📢 Have you started a new venture? Looking for simple ways to boost your sustainability efforts? Eager to connect with top business minds? 🙋 Come and say hello at the GreenTech Gathering on 21st November 👋 I’ve been invited to speak at the GreenTech Gathering, sharing Tred’s journey to build the UK's pioneering fossil-fuel-free business account for SMEs in partnership with Mastercard 🌍 - How can your finances become a unique selling point? - Curious about our key milestones? - When is the perfect moment to pivot? Made in Yorkshire, Tred provides businesses with a current account they can trust. We're personally on hand to support your growth, no more automated phone lines! Plus, we ensure your money is 100% fossil-fuel-free and matches your values. If you're intrigued by the fusion of tech and sustainability or seek insights on aligning your business finances with ethical integrity, Matt Wheeler and I would love to see you there! 👉 Grab your free ticket via the link in comments #GreenTechGathering #SustainableFinance #GreenBusiness #Tred #EcoBusiness #ClimateAction #Bcorp #Innovation #Sustainability #TechForGood

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I often talk about ‘building something offline, before raising money’. This is the perfect example of what I mean👇 One of our portfolio companies Tradeaze UK LTD (it’s a biassed example, I’ll admit), identified a pain point: Co-founder, Jack, is an electrician by trade and saw first-hand the amount of time wasted by tradespeople when picking up tools and parts needed for a job.   To solve this pain point: ↳ Jack set up a Tradeaze iPhone, approached tradespeople on the street, handed out flyers and reached out on Facebook groups to his target audience. ↳ Tradies would text the number, asking for a part or tool. ↳ Jack would then jump on his bike to pick up the part and deliver it back to the customer directly. ↳ After a while, Jack started working directly with merchants providing them with a tablet in kiosk mode, with which the merchant would fill in a really simple form and Jack would receive the order email. ↳ Again, Jack or one of the delivery riders would take the part direct to the tradesperson in need. ↳ Jack continued this way until he got to breaking point and couldn’t handle any more daily deliveries. ↳ This is when he expanded his team to bring in even more experience with his co-founders Joe Blair and Ruben Engel. Since they have raised investment from us and other investors. They were able to prove their pain and solution offline, saving them money and time and proving traction to bring on investors ! Raising too soon, before proving you have the right solution is a huge risk. This is a fantastic way to build a business without needing to raise investment right away. Build offline first ! #businesstips #entrepreneurship #startups

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This month marks my 10 year anniversary in Venture, and what a ten years it has been 🎉 🤩 First stop: JamJar Investments Rewind 10 years and you’ll find me sitting at my desk at JamJar, operating under the alias of “Bread”, working my way through an inbox full of 1000 cold inbound pitch decks, reviewing and replying to every single one. Highlights included a hand drawn picture of a new ketchup sachet design with “target market: Nandos” written below it, and a concept for a drink that tasted like the leftover milk at the bottom of a cereal bowl. But there were also some diamonds in the rough, and it was here that I got my first experience of that lightbulb moment when you meet an exceptional founder that you want to back, making my first investment a few months in. JamJar was the best training ground I could have hoped for, and I'm so grateful to Katie Marrache and Adam Balon, Richard Reed & Jonathan Wright for welcoming me into the team. Second stop: Venrex In 2015, I joined Mark & Tom at Venrex alongside Pooja Patel. We clicked as a team immediately, and over the ensuing years launched 7 new funds, grew the portfolio to 180+ companies, built a brilliant team, moved from a small attic in West London to panoramic views in Fitzrovia, and had a lot of fun along the way. As well as the buzz of discovering new founders to back, I also discovered my love for supporting founders post-investment. With 11 board roles and a further 16 portfolio companies to support, the ex-strategy consultant in me had just enough to get my teeth into. Venrex’s people-centric and pragmatic approach to investing chimed with my own instincts about the type of investor I wanted to be. They gave me the most incredible platform to grow as an investor and roll up my sleeves with all of the operational sides of running a venture fund. To the entire Venrex team, new and old, thank you for an amazing chapter. Third stop: Circle & Co In June, I left Venrex to launch my own Venture fund, Circle & Co, which is on track for its first close next month. It's by total chance that this milestone falls on my 10th anniversary in venture, but what an incredible way to kick off the next decade. More details on the fund to follow, but for the moment I want to thank the amazing network of friends, fellow VCs, founders, LPs and family who have got me this far. You are the original Circle, and have been the inspiration & driving force behind this next step. Let's make it a good one.

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Excited to announce the launch of ClimateQueers on the 27th of June to supporting diversity and inclusion within early-stage ClimateTech! Come along to our launch event hosted with Sustainable Ventures at County Hall (RSVP below) 💚🌍🏳️‍🌈 The startup scene is often perceived as a monoculture, it’s a stereotype which is not unduly founded, however, has become less true in recent years as the value of team diversity is being given more weight. However, attracting underrepresented talent can be self-defeating due to underrepresentation in the workforce making roles seem less attractive to those who may feel more vulnerable. It’s a catch-22 for small teams, but by bringing together multiple companies we’re looking to build a larger community for smaller companies benefiting from opportunities of scale often reserved for established organisations. We're launching ClimateQueers with our first event on the 27th of June at Sustainable Ventures County Hall—just in time for London Pride! 🎉 You can sign up and share the event below or DM me if you’d like to know more. #ClimateQueers #DiversityInTech #ClimateImpact #PrideMonth

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I’ve recently joined the Project Frame working group with the ambition to help harmonise some of the thinking and approaches on evaluating current and future impact. At Carbon13 we require every venture to present an Investment and Impact Case (Carbon Case). Project Frame is focused on greenhouse gas emissions. A recurring question - does every tonne of CO2e have the same “value”? One tonne today vs tomorrow, and what about integrity or longevity of the avoidance or removal. Too complicated? Thoughts on the back of a postcard… Project Frame, Carbon13 #impact #emissions

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Here is a snapshot of the top European funding rounds and exits in September 👀 347 funding rounds were completed in September €4.2bn was invested into European Startups 53 exits occurred, 49 undisclosed, 4 were valued at €3.3bn The UK raised €1.1bn across 68 deals More fundraising data on the last update from Isomer Capital on EUVC Insights! 🔽 https://lnkd.in/dTys96rP #venturecapital #startupfunding #Europe

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In a recent Sifted article, I share thoughts on emerging managers esp. Solo-GPs, here's what I think 👇🏽 https://lnkd.in/eYx7h5Qv I’m a solo-GP building OpenseedVC, here’s what some think this means; 🔻That there is key-person risk 🔻That there is little accountability or governance 🔻That it is a one-person show Here’s what it ACTUALLY often means; 👇🏽 ✅ We've set up governance that foster accountability, not bureaucracy ✅ As a fund, we have a dizzying depth of complementary skillsets ✅ We build conviction and move quickly; critical for early stage ✅ We are process geniuses, automations and efficiency is in our DNA ✅ We have a lean, mean team optimised for high for efficiency There is no "founder-like fund" quite like a Solo-GP emerging manager. For us at OpenseedVC, we invest up to $150k at the angel stage, and are flexible. We can lead your angel round. We can follow if the terms work for us. We don't take board seats. Whatever it is, we are first investors in ambitious and experienced operators just as they start their technology companies! We are founders ourselves, and have parallel experiences to the most ambitious and resilient founders, and this is ultimately superpower 💥 Solo-GPs are outliers, and in the business of #VC #venturecapital, outliers signal potential for outsized opportunity. #operators #openseedvc #europe #africa #soloGPs

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I personally think an elevator pitch is more important to get right than a pitch deck! That very first point of contact. Can you clearly and succinctly describe your business in under 60 seconds? Ideally, 30 seconds? Too many founders I meet ramble on for too long and focus on their current product, opposed to the problem they are looking to solve. Top Tip: Practise your elevator pitch relentlessly. Practise it on everyone you meet. Even your family! Get your whole team to practice it. Focus on perfecting a short, impactful pitch. It’s your key to opening doors and sparking interest. Remember, you’re not trying to close the deal there and then; you’re only trying to get investors interested enough to want to learn more. It was a pleasure to be featured in SeedLegals latest e-book and give some thoughts about raising investment.

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A reminder to pre-seed founders in the UK: Do not forget your superpower! I see so many pre-seed / pre-revenue founders stating “I’m going to chase VCs or foreign investors”. More on the VC debate in a future post, but raising from any non-SEIS investor (ie foreign investors, VCs or other ‘institutional investors’) is ignoring your superpower, which (broadly, with caveat) offers your investors: 50% of their investment back, CGT and IHT exemption and 22% loss relief if the start-up fails. And in return you get relatively founder friendly terms (though some of those SEIS funds are punchy – link below for details on that). Want to know more about how to switch on your superpower? Then talk to FounderCatalyst 😊

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