Entrepreneur First reaches $115m first close of global fund: Report

Entrepreneur First co-founders Alice Bentinck and Matthew Clifford

London-based Entrepreneur First (EF) has reached a $115-million first close for its global fund, according to a TechCrunch report.

The venture builder and ‘talent investor’ had earlier submitted an SEC filing indicating a target fund size of $255-million.

According to the report, EF said that the new fund is one of the largest pre-seed funds it has ever raised. It added that the capital will allow EF to back more than 2,200 individuals or 300 startups over the next three years.

The fund’s first close was led by institutional investors in the US, Europe and Asia, as well as new anchor LP, Trusted Insight. Prominent European entrepreneurs such as Taavet Hinrikus, co-founder of TransferWise; Alex Chesterman, co-founder of Zoopla; and Rob Bishop, co-founder of Magic Pony Technology also joined this round.

EF also announced that its General Partner, Joe White, has relocated to Silicon Valley, where he will focus on growing EF’s investor base in the West Coast.

In an earlier interview with DEALSTREETASIA, Alice Bentinck, co-founder of EF, had shared that the venture builder aims to strengthen its international presence in 2019. Until last year, Entrepreneur First was only operating from London and Singapore. Today it is in six cities: Hong Kong, Bangalore, Singapore, Paris, Berlin and London.

Entrepreneur First has backed 72 startups from Asia, comprising roughly half of all the startups it has invested in. During EF’s pan-Asian Investor Day in Singapore last month, the venture builder said it plans to invest in close to 400 founders in Asia by end-2019. Its most recent fourth cohort of Asian founders comprised 22 deep tech startups from Singapore and Hong Kong.

Also read:

UK-based venture builder Entrepreneur First to raise $255m global fund

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.