We regard early-stage investment as a distinct asset class with a similar set of challenges and opportunities, regardless of sector. As such we are a generalist investor, though our focus on fast growth lends itself particularly to technology, financial services, healthcare and support services.

We look for propositions where the business concept, management quality, market structure and distinctiveness of product or service can propel a sustained and growing business. We like businesses operating in a fast-growing niche that can differentiate themselves from their competitors and protect their differentiation.

Typically, we aim to invest between £500,000 and £5,000,000 in an initial funding round, and to support the business through follow-on funding. We will only invest if we believe that the business can achieve profitability on the financial resources available to MMC.

We prefer to lead our own deals in order to control due diligence and the investment structure, but will utilise co-investment opportunities where partnership proves beneficial. We are careful to structure deals with regard for later rounds of financing, management motivation and capital efficiency, and plan the exit strategy at the outset.