INSUBCONTINENT EXCLUSIVE:
UK based, Europe focused early stage VC firm Mosaic Ventures — which bills itself as &a Silicon Valley-style venture capital firm based
in London& — looks to be raising a second, larger fund, four years after closing its debut $140M fund.
According to a Form D filing,
submitted yesterday with the US Securities and Exchange Commission, Mosaic Ventures is aiming to raise $150M for the second fund.
The filing
also states that Mosaic intends to incorporate the fund in the Cayman Islands — a popular location for investment funds.
Although, given
political upheaval and business uncertainty in the UK on account of Brexit, you do have to wonder whether the decision to incorporate the
fund in a British Overseas Territory isn&t at least partly related to the ongoing domestic fog.
We reached out to Mosaic Ventures about its
intentions for the second fund but at the time of writing the firm had not responded.
Mosaic was co-founded in 2014 by veteran investors
Simon Levene, Mike Chalfen and Toby Coppel.
The firm focuses at the Series A end of early stage startup investment, and counts the likes of
Clue, InfoSum and Blockstream in its current portfolio.
In a bit of a twist thisMarch, Chalfen announced he was leaving to focus on
investing in a solo investor capacity — and on what he dubbed a &streamlined professional life&.
He remains on theboards of his Mosaic
portfolio companies, and at the time of his departure also said he planned to invest in future Mosaic funds.
