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Revolut investor Index Ventures raises £1.8bn across two funds

Index Ventures investor
Image credit: T. Schneider / Shutterstock

Revolut and Multiverse investor Index Ventures has raised $2.3bn (£1.8bn) in new funds targeting early and growth-stage startups.

The firm plans to invest a “significant proportion” of the new funds into UK startups. Headquartered in London and San Francisco, Index Ventures is one of the most prominent investors in the UK, having backed the largest number of British unicorns.

The investor has launched both an $800m venture fund and a $1.5bn growth fund, bringing the total raised by the firm since its founding to $15bn.

Index Ventures, along with many of its competitors, has identified AI as a top area of interest for new investment opportunities.

“Even though technology has transformed our daily lives, the reality is that it has so much further to go,” said Shardul Shah, partner at Index Ventures.

“AI alone will revolutionise virtually every sector of the economy and open up whole industries to ventures that have remained virtually untouched.

Labour peer and Growth Minister Lord Livermore added: “Boosting private investment into the UK economy is an urgent priority for our growth mission, so I very warmly welcome Index Ventures’ commitment to Britain and their vote of confidence in our VC sector.

“It’s great to see how private investment in the technologies of the future will create thousands of jobs so people across the UK can benefit.”

Index Ventures partner Hannah Seal was among the more than 100 tech and investment leaders to back the Startup Coalition manifesto aimed at the new government.

The manifesto called for simpler visa routes for international skilled workers, greater tax incentives for R&D, more public funding for startups and emphasising support for smaller startups in competition law.

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