MyVoucherCodes founder turned investor launches £100m fund for early-stage tech firms

MyVoucherCodes founder turned investor launches £100m fund for early-stage tech firms
Dan Martin
Dan MartinDan Martin Content & Events

Posted: Wed 5th Jul 2023

Fuel Ventures, the investment firm started by serial entrepreneur Mark Pearson, has launched a new £100m fund for seed and pre-seed digital and technology start-ups.

The company's latest fund will be deployed during the next 12 months to more than 60 fast-growth businesses operating in software (SaaS), marketplaces, fintech platforms and ecommerce.

Founded in 2015, Fuel Ventures was started by Mark Pearson who launched discount codes website MyVoucherCodes for £300 in 2006 and sold it for £55m in 2014. To date, Fuel Ventures has invested £180m in more than 140 seed to series A tech start-ups.

Notable previous investments include fintech payment company Volt; Capdesk, which exited for $88m; Peckwater Brands which builds data-driven, delivery-only food brands for restaurants and ecommerce marketplace OnBuy.

Speaking about the latest fund, Mark Pearson said:

"We are investing in the long-term future of the UK tech landscape. Despite the pain the industry is feeling at the moment, now is not the time to hold back.

"There remains exciting entrepreneurial talent and incredibly innovative tech businesses with huge potential. These are the ones that need our support at their most vulnerable - those early days when capital and support from experienced backers are vital.

"I have been there myself and know how hard it can be to get a business off the ground. My aim is to invest in and work with a greater number of tech ventures that will contribute to a stronger tech landscape in the years to come."

The fund will provide investments up to £250,000 for pre-seed ventures and up to £4m for seed to series A. Fuel Ventures said a "small percentage" is allocated for follow-on investments in its portfolio companies that are "speeding up their growth and outperforming targets".

Contact Fuel Ventures now

Mark Pearson on what he looks for in a business:

Mark Pearson on how to pitch to investors:

Dan Martin
Dan MartinDan Martin Content & Events
I'm a freelance journalist and event host who helps small businesses and the organisations that support them. I'm also Enterprise Nation's news reporter and Bristol Local Leader. I have 20 years of experience as a small business journalist having interviewed hundreds of entrepreneurs from famous names like Sir Richard Branson and Deborah Meaden to the founders behind brand new start-ups. I've worked for a range of leading small business publications and support groups, most recently as head of content at Enterprise Nation where I was responsible for the prolific output of content on the company's blog and social media. I now freelance for Enterprise Nation as the website's news reporter and as the host of the Small Business sessions podcast. I'm based in Bristol where I run and host regular events with the local small business community in my role as Enterprise Nation's Local Leader for Bristol. I also have strong connections with other major business organisations in the south west region. In total, I've hosted over 100 events including conferences with an audience of hundreds for international brands like Xero and Facebook and live web chats from inside 10 Downing Street. With my partner, I co-run Lifestyle District, a lifestyle blog focused on culture, art, theatre and photography.

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