Outward VC is a fintech specialist venture capital fund backed by founding investors Investec Bank and NIBC Bank alongside other international investors. The fund invests at late-seed and Series A in category defining fintech’s in the UK and Europe that address large global market opportunities.
The Outward VC team works closely with its portfolio companies to help them leverage its global network and domain expertise in financial services. Investec and NIBC’s combined reach across Europe, Asia, Australia, Africa and the US is a major advantage to Outward VC’s portfolio companies.
Mainspring was appointed as Fund Administrator following a thorough selection and supplier evaluation process.
Kevin Chong, Co-head of Outward VC commented:
“As a technology investor, we wanted to work with a fund administrator who had a strong track record of working with venture capital funds whilst also sharing a focus for technology innovation within their business. Mainspring stands out in this respect and we look forward to working with the Mainspring team in development of the Outward VC fund.”
Commenting on the new appointment, Neil Clark COO Mainspring:
“One could say the Fund has the best of both worlds in that it is not bound by the corporate strategy considerations of its investors in selecting investments, yet is able to leverage the platforms and relationships of its Founding Investors to add real value to portfolio companies. We very much look forward to support the Outward VC team with the growth of the Fund.”
Outward VC held a first close of its inaugural fund in July 2019 at approximately half of its £75m target. The Fund will be open to new investors for a six-month window as it seeks complementary institutional and private LPs.