This post is by Steve O'Hear from Fundings & Exits – TechCrunch
“You wanted me to record this?” asks Saul Klein, LocalGlobe founding partner.
“Just in case you say anything interesting,” I quip back.
“I won’t be doing most of the talking, so maybe someone will say something interesting,” Klein replies poker-faced, before grinning.
Once again, I’ve agreed to an ensemble-style interview with multiple members of the LocalGlobe investment team: Klein, George Henry, Suzanne Ashman, Julia Hawkins, Mish Mashkautsan and Remus Brett. Unlike in 2015, however, when I visited the early-stage VC’s then offices in Tileyard Studios, the interview is taking place over Zoom, rather than the firm’s new Phoenix Court premises in the King’s Cross area of London.
Also in contrast to last time, when I wanted to scoop LocalGlobe’s latest fundraise and Klein rather I didn’t, this time it’s the other way round: I’ve been invited to write a piece partly anchored on news of two new funds that were quietly raised last year.
LocalGlobe, the entity that invests at seed stage, has an additional $150 million of capital to deploy in the U.K. and Europe (and further afield). Running alongside is Latitude, a growth-stage fund now with $220 million more to invest, which allows the LocalGlobe team to take a fresh look at breakout portfolio companies that have proven their growth potential or to back other scale-ups, which, for myriad reasons, didn’t take or weren’t offered LocalGlobe’s cash earlier.
“Latitude was born out of the idea of building continuity,” says LocalGlobe general partner George Henry. “When it comes (Read more...)