Forward Partners has closed a new £60 million fund that will enable the London-based company to continue to invest in tech startups from idea to late seed stage.
According to Tech Crunch, Forward Partners, originally founded by Forward Internet Group and Nic Brisbourne, received the new funding from a single unnamed LP, with sources saying that it isn’t Forward Internet Group or an LP that sits on the VC’s investment committee. Yet despite having a single LP, this second fund will be a fully independent entity managed by Brisbourne and partners.
Brisbourne also noted that this new round of funding is proof that Forward Partners’ model is working. The company backs startups during their earliest stages and, if needed, offers support from a team of nine people comprised of marketers, recruiters, designers and developers.
In the four years since its launch, Forward Partners has backed more than 30 startups, including pop-up retail marketplace Appear Here, personalized children’s book publisher Lost My Name and health care company Big Health.
The company is currently updating its investment thesis, but Brisbourne told TechCrunch that it remains focused on eCommerce and marketplaces “in every vertical.” He said this enables the firm to take and apply common knowledge, including customer acquisition and retention, across many sectors.