Ariadne founder raises debut venture capital fund.
Julie Meyer, founder of investment and advisory firm Ariadne Capital has launched a £20m venture capital fund.
The Ariadne Capital Entrepreneurs Fund (ACE) has been backed by 10 leading entrepreneurs, including former Partygaming chairman Michael Jackson, David Rowe, founder of EasyNet and Marc Worth, founder of WGSN.
Meyer will act as the managing partner of the fund, which will invest in internet and mobile internet companies at the seed stage, in the business applications, media technology, voice applications, financial services and digital entertainment sectors.
ACE will invest the first £250,000 to £1 million into growing companies.
Meyer said that companies in the portfolio of Ariadne Capital, which has funded more than 30 companies in 8 years, could be among the first to receive investment from the fund, which will be fully raised by the end of the year.
Meyer said: “Ariadne Capital has developed a model whereby we bring the gutsiest entrepreneurs into our portfolio, and advise them effectively on the go to market, the board alignment, corporate structure and high growth management.
“Our new ACE Fund helps us to take that expertise to the next level. People are 100% of the business, and we work to empower them in concrete ways."
Jackson said: "Julie spots great entrepreneurs, and works tirelessly to help them build their companies.
"That is her unfair advantage, and I want to support her in her debut fund, bringing my twenty years of experience in the early stage technology sector to the ACE Fund to ensure its bright future."
© Crimson Business Ltd. 2009