lastminute.com co-founder raises $60M seed fund

Newly formed VC firstminute capital has raised $60 million for a fund focused on early-stage European tech companies. The firm is led by former Goldman Sachs analyst Spencer Crawley and Brent Hoberman, previously the co-founder and CEO of online travel group lastminute.com before selling the company to Sabre in 2005. Hoberman is also the chairman of Founders Factory, a London-based incubator and accelerator.

firstminute will use the fund to make seed investments of up to $750,000, with a focus on areas such as IoT, AI and robotics. The fund has reportedly received commitments from several entrepreneurs, including the founders of Supercell, BlaBlaCar and Skyscanner, as well as Atomico, the VC firm of former Skype CEO Niklas Zennström.

The news provides a $60 million boost to British VC fund figures, which have taken a hit so far this year. It also follows the launch of another UK-based early-stage fund earlier this month, a £28 million vehicle from Rooks Nest Ventures focused on the media and tech sectors.

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