London Fund

The MMC London Fund aims to promote and drive SME investment in the capital.

Foundation

MMC won a competitive tender to launch the London Fund in 2013. The Mayor of London is the sole investor in the fund which is partly financed by a grant from the European Regional Development Fund and Funding London.

The £14m fund is specifically focused on investment in London businesses and as it is a ‘matching fund’, at least £28m was expected to be invested in the capital as a result. To date, the Fund has invested and stimulated more than £100m of investment. The London Fund co-invests alongside other venture capital firms, business angels and other MMC Funds including the EIS Fund.

Objective

The London Fund seeks to provide funding for early-stage, fast-growing businesses in London. It is suitable for companies that have grown beyond the pre-seed stage, have demonstrated commercial traction and revenue, and are seeking follow-on capital to accelerate their growth.

It aims to create and safeguard jobs in the capital and stimulate growth within the burgeoning SME community operating within it. To date the fund has invested in 19 companies. We have deployed the cash in a wide range of businesses, from retail and transportation through to food and knitwear!

Strategy

The Fund targets businesses that can generate significant levels of economic growth as well as strong venture returns. It has been set up to invest in London’s most important strategic business sectors, as defined by the Mayor’s Economic Development Strategy: financial services; creative industries; the ‘digital economy’; leisure; education; and healthcare.  Companies in the London Fund portfolio include; Appear Here, Gousto, MUBI and Wool and the Gang.

 

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  • Online marketplace for sourcing and booking short-term retail and event ‘pop-up’ spaces around...
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  • Food delivery service allowing customers to choose recipes and receive the necessary ingredients....
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  • Software provider offering businesses inbound marketing tools to help predict their next customers....
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  • exit
    Online marketplace that facilitates home swapping between subscribers around the world. Love Home...
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  • Masabi provides mobile ticketing solutions for mass transit and allows users to buy...
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  • Online provider of fashion courses, videos and tutorials providing low-cost access to high...
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  • An online platform for companies to identify, engage and manage independent consultants. Talmix...
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  • A curated online cinema and community that offers a subscription-based video on demand...
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  • Supplier of finance technology platform which matches the financing needs of Small and...
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  • Provider of marketing tools and software designed to simplify workflow across marketing channels....
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  • Online coffee retailer in the premium coffee market, selling ground coffee and coffee...
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  • The UK’s largest fitness network, offering flexible, discounted gym passes nationwide. The PayasUgym...
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  • Specialist provider of drone inspection services for the oil and gas industry. Founded...
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  • Pioneering mobile-first digital product accelerator. Somo helps clients make sense of the complex,...
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  • exit
    Online fashion retailer selling knitwear products and aiming to create a global knitting...
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