Crowdfunded investment fund hits £0.5m level

Fuel.Ventures, a fund that is seeking to target a pipeline of European e-commerce startups, has attracted over £0.5m of investments via crowdfunding platform Seedrs, including investments of as little as £100.

Some 274 investors have participated, taking the total raised to £539,300 over a six week period via the crowdfunding page As an open ended fund, Fuel.Ventures will be able to continue accepting investments. The fund is intended to offer private investors access to early stage e-commerce businsses, which otherwise typically attract venture capital funds.

The portfolio will consist of UK Enterprise Investment Scheme eligible European e-commerce companies that are deemed high growth, technology based, and transactional businesses. They will be targeted at incubation, inception, seed and late seed points in their development.

Mark Pearson, co-founder of Fuel.Ventures, said: “It’s fantastic to have received such support and to have gone past the initial £500,000 target, especially with this being the first time that everyday members of the public have had the opportunity to invest in this way. It’s unheard of for investors to share their pipelines with everyday investors, but together we believe that we can provide early-stage technology businesses with the investment that they need to grow.”

“I’ve built and invested in a number of successful e-commerce businesses so I know well what it takes to succeed. Fuel Ventures will use this experience to invest in and accelerate the growth of the next generation of entrepreneurs in the sector. By providing capital, experience and expertise to the companies we invest in we aim to achieve both significant and rapid growth.”

Pearson previously started Markco Media, the parent company of discount website for just £300 from his bedroom. It was sold in 2014 in a deal worth up to £55m.

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