Six years after starting a highly influential and entertaining podcast called the 20 Minute VC, Harry Stebbings, aged only 24, has established the largest ever single partner VC with backers including early Spotify investor Shakil Khan, Lord Rothschild’s investment trust RIT Capital Partners and the endowment fund of the Massachusetts Institute of Technology (MIT). The seed fund will invest $250-750k in pre-Seed Series A tech opportunities, while the growth fund will invest $1-5m in tech companies conducting Series B or subsequent rounds.
Podcaster turned tech investor raises $140m fund – read the FT article here
By way of disclosure, we should acknowledge that Harry is the son of our colleague Chris Stebbings. Nevertheless, we feel this development is fascinating because of what it says about the investing landscape. First, the rate of change in technology, business and indeed society appears to be accelerating and some prominent investors clearly believe that related investment opportunities can be best perceived and implemented by younger people like Harry. Secondly, the single partner structure suggests that the criteria that make a good investment are very precise. A large team of partners and researchers is not required. Thirdly, there is an ongoing convergence of business and social media, which is by-passing the usual channels for the dissemination of information and building the profile of a company.
We are excited about the part young people can play in creating businesses and indeed believe it is vital in establishing a strong and sustainable economy as we emerge from the pandemic. We have felt this very same energy from a young management team while arranging a current equity capital raising for Mous Products Limited, a disruptive provider of robust and stylish phone cases and other tech accessories. In addition to Mous’s value proposition and expertise in NPD, the company’s potential is underlined by its ability to create exciting media content and build an emotional connection with its customers. As you can see in the below video, you have to have youth on your side to attempt the tests that the company applies to its products!
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