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Passion Capital

From EverybodyWiki Bios & Wiki

Passion Capital is a London-based early stage venture capital firm.[1][2]

History[edit]

The venture capital firm was launched in March 2011 as a private-public hybrid fund with an initial fund of $60 million, of which $40 million was from the United Kingdom government. The founding fund partners were Stefan Glaenzer, Eileen Burbidge and Robert Dighero, who were described by VentureBeat as being among Europe's most prolific investors.[3] They put out reports in 2012 (on their first year of operation)[4] and 2013 (on their first two years of operation).[5] The firm announced, at the end of May 2015, that they raised their second fund in the sum of $69 million (£45 million, of which £17.5million is provided by the United Kingdom government) this was controversial after the conviction for sexual assault by Stefan Glaenzer[6][7]. Glaenzer has since quit the firm.[8]

Companies[edit]

Passion Capital has invested in over 100 companies[9], including Ravelin (a machine learning fraud detection company for online businesses), [10] Lulu (an app with information about men, including ratings by other women, for women interested in dating),[11] Smarkets (a United Kingdom-based peer-to-peer betting exchange),[12][13] Swipe (a cloud-based tool for creating and consuming slide deck-style presentations),[14] Wedo (a London-based online furniture store),[15] Coinfloor (a London-based Bitcoin trading exchange), Car Throttle (a London-based media platform for car enthusiasts),[13][16][17][18][19] Monzo [20] and many other companies.[1]

Transparency initiatives[edit]

Passion Capital has pioneered a number of transparency initiatives with relation both to company operation and to investment. In June 2013, they announced that they would have a "plain English term sheet" eschewing the use of legal jargon, and put up their sample term sheet online.[21] Passion Capital also publishes information annually on the status of its current and past investments, as well as its average salaries and other expenses.[4][5] In October 2012, Passion Capital announced joint office hours in London with ten other venture capital firms including Index Ventures, Accel Partners, Balderton Capital, and Eden Ventures.[22]

Media coverage[edit]

Passion Capital has been covered extensively on TechCrunch.[6][4][5][23] GigaOm described it as one of London's premier seed investors in an article where they published advice from the people running Passion Capital.[24] An article by Jessica Furseth about fundraising in London included Passion Capital.[25] VentureBeat included Passion Capital in an article on London's thriving startup ecosystem.[26]

External links[edit]

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  • CrunchBase profile
  • Passion Capital on TwitterLua error in Module:WikidataCheck at line 23: attempt to index field 'wikibase' (a nil value).

References[edit]

  1. ↑ 1.0 1.1 "Passion Capital". Retrieved January 22, 2014.
  2. ↑ "Passion Capital". CrunchBase. Retrieved January 22, 2014.
  3. ↑ Byrne, Ciara (March 28, 2011). "The U.K. gets a $60 million early stage fund". Retrieved January 22, 2014.
  4. ↑ 4.0 4.1 4.2 Butcher, Mike (May 3, 2012). "One Year On, Passion Capital Proves Its Mettle As A Go-To Seed VC In Europe". TechCrunch. Retrieved January 22, 2014.
  5. ↑ 5.0 5.1 5.2 O'Hear, Steve (June 27, 2013). "Passion Capital Cracks Open Data On Investments, Deal-Flow, Founder Salaries, And More". TechCrunch. Retrieved January 22, 2014.
  6. ↑ 6.0 6.1 Butcher, Mike. "High Profile UK VC Stefan Glaenzer Faces Jail After Sexual Assault Conviction | TechCrunch". Retrieved 2017-08-26.
  7. ↑ Lomas, Natasha (May 28, 2015) - London’s Passion Capital Raises $69M For Its Second Early Stage Fund/
  8. ↑ "'The end of my VC career' — Stefan Glaenzer quits Passion Capital to clear way for third fund – TechCrunch". techcrunch.com. Retrieved 2018-06-05.
  9. ↑ "Passion Capital | Crunchbase". Crunchbase. Retrieved 2018-06-05.
  10. ↑ "Ravelin raises £1.3M". Ravelin Raise.
  11. ↑ Butcher, Mike (February 5, 2013). "Lulu Raises Another $2.5M From Yuri Milner And Angels For Its Girls-Only App To Rate Guys". TechCrunch. Retrieved January 22, 2014.
  12. ↑ O'Hear, Steve (February 21, 2013). "Deutsche Telekom's T-Venture Takes A Punt On P2P Betting Exchange Smarkets, Leads $2.3M Funding Round". TechCrunch. Retrieved January 22, 2014.
  13. ↑ 13.0 13.1 Wauters, Robin (February 21, 2013). "UK-based betting exchange Smarkets lands $2.3m from Deutsche Telekom's T-Venture, Passion Capital". The Next Web. Retrieved January 22, 2014.
  14. ↑ O'Hear, Steve (November 21, 2013). "Swipe Launches To Save You From Death By PowerPoint". TechCrunch. Retrieved January 22, 2014.
  15. ↑ O'Hear, Steve (December 2, 2013). "Wedo Raises £3 Million Led By MMC Ventures. Because Furniture". TechCrunch. Retrieved January 22, 2014.
  16. ↑ O'Hear, Steve (January 19, 2015). "Car Throttle Raises $1.6M To Move Beyond Cars And Become A 'Vertical Media Platform'". TechCrunch. Retrieved January 19, 2015.
  17. ↑ O'Hear, Steve (October 29, 2013). "Coinfloor Is A New UK-Based Bitcoin Exchange Backed By Passion Capital And Transferwise Founder Taavet Hinrikus". TechCrunch. Retrieved January 22, 2014.
  18. ↑ Solon, Olivia (October 29, 2013). "London-based Bitcoin exchange Coinfloor opens for business". Wired. Retrieved January 22, 2014.
  19. ↑ Meyer, David (October 29, 2013). "Bitcoin regulation? New London-based exchange Coinfloor will worry about that later". GigaOm. Retrieved January 22, 2014.
  20. ↑ "Mondo gets Passionate". Techcrunch. October 29, 2015. Retrieved Feb 20, 2015.
  21. ↑ O'Hear, Steve (June 20, 2013). "A Term Sheet Written In Plain English? Put That In Your Silicon Valley Pipe And Smoke It". TechCrunch. Retrieved January 22, 2014.
  22. ↑ O'Hear, Steve (October 22, 2012). "London VC Love-In: Index, Balderton, Eden, Passion Capital & Others Holding Joint Office Hours This Week". TechCrunch. Retrieved January 22, 2014.
  23. ↑ "Passion Capital". TechCrunch.
  24. ↑ Johnson, Bobbie (May 3, 2012). "Five lessons from London's hardest working VCs". GigaOm. Retrieved January 22, 2014.
  25. ↑ Furseth, Jessica (January 4, 2013). "London startups: The fundraising experience". Retrieved January 22, 2014.
  26. ↑ Farr, Christina (July 2, 2013). "Why London has all the ingredients for a successful startup ecosystem". VentureBeat. Retrieved January 22, 2014.


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