Pario Ventures launched a £45 million fund to assist startups
In response to the economic slump, London-based Pario Ventures has created a £45 million fund to support scaleup and early-stage enterprises in the US or the UK.
“The current changes to the financial markets will have an impact on companies that had planned funding to break even. Dotcom and GFC in 2008 show that funding becomes increasingly harder to get and capital more expensive,” said David Murray-Hundley, CEO and co-founder, Pario Ventures.
A slowdown in later-stage funding has resulted from rising inflation and interest rates brought on by the conflict in Ukraine and other market worries, with some businesses raising capital at much lower valuations than they did a year ago.
Along with the Pario Ventures fund, it will introduce its “unplugged” programme, which functions like an accelerator for businesses that are having difficulty coping with the economic slump.
Additionally, the venture capital firm has locations in Brussels and New York.
Kevin Doyle, co-founder, Pario Ventures said: “There are also a lot of companies in Europe that have bootstrapped and are close to doing first revenues, that sit in a unique position. Not only can we offer the financial side, but we can also support our experienced team based here in the UK and the US, who have decades of experience going through downturns and the startup ecosystem.”
Since its founding in 2010, Pario Ventures has invested in more than 80 companies in the automotive, finance, green technology, and space technology industries. The challenger bank Revolut, the electric vehicle manufacturer Rivian, What3words, and Impossible Food Inc. are among its portfolio companies.
To expand its activities in London and the US, Pario Ventures closed a £3.5 million seed round in August of last year.
Pario Ventures is an inspiring firm that is helping a lot of startups get through difficult situations. I’m certain this firm will keep on succeeding in its endeavours. Best of wishes to the entire team at Pario Ventures.Shishir Gupta, Founder and CEO, StartupLanes
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