Fuel Ventures, a London, UK-based pre-seed and early-stage venture capital firm, closed a new fund at $63.6m.
The new fund plans to back 60 U.K.-based tech startups over the next 12 months.
Led by Mark Pearson, founder and managing partner, Fuel Ventures is an early stage investor in technology companies in the UK. The firm invests in early stage globally scalable marketplaces, platforms, software (SaaS) and transactional technologies.
The firm, which now has $112m in assets under management, is also opening up a workspace in central London to serve its portfolio. Recent notable investments include OnBuy, Capdesk, OutFund, Heroes and Moot Group.