Giant Ventures, a UK-based VC accustomed to investing on both sides of the Atlantic, is launching two new funds, totaling $250 million. Her previous fund totaled $100 million.
The firm invests in climate, health and what it calls “purpose-driven” and what some used to call “impact” or “mission-driven” startups.
Either way, the raise consists of a new $100 million seed fund that will aim to support around 25 early-stage companies, while a $150 million climate-focused growth fund will target Series B companies. says it has made 10 investments so far from the two funds.
Prior to that, Giant had invested in a mental health app Calmcoal removal platform AgreenaUK energy storage startup Field (which has raised $300 million) and healthcare startups Doccla.
Part of Giant’s main “offer” to startups, if you will, is that they are led by ex-founders and operators in a European ecosystem where 92% of European venture capitalists have never worked in a startup. The company is led by Cameron McLain, a retired founder, and Tommy Stadlen, co-founder of Swing Technologies (acquired by Microsoft).
Admittedly this has started to change in recent years with the emergence of new funds such as Plural, which is run by departed founders from Wise, Songkick and others. Plural recently raised a new fund of €400 million.
In a call, Stadlen told me: “Half of that capital goes to European companies, including the UK, and then half of that goes to US companies. So we are fully transatlantic. We have people in London, where the headquarters are, but we also have people in Copenhagen, Stockholm, New York and California.”
Advisory board members include former BP chief executive Lord Browne, former British foreign secretary David Miliband and 23andme founder Linda Ivey.
Giant’s LPs include BMW, Henkel, RIT Capital Partners, Cambridge Associates clients, Stepstone, Danish sovereign wealth fund, The Nature Conservancy (US) and Sir Richard Branson.
The news is not unwelcome in an environment where Britain is consistently ranked near the bottom of the G7 in recent years for all sources of private investment in the economy.
Although quite a few UK VCs are enrolled in a program To boost investment in startups last year will undoubtedly take some time to filter through the ecosystem.
VC in Europe has been hit by a weak economy and has been mostly flat over the past two years. Startup investment dropped in 2023 to $45 billion.
Meanwhile, North American investors are cutting back, with Omers and Coatue downgrading their activity.
