Investor Profile: ProFounders Capital — Thesis, Cheque Size & How to Apply

ProFounders Capital is a London-based, pan-European early-stage venture fund with a founding idea that still defines it: entrepreneurs backing entrepreneurs. Set up in 2009 by founders who had built some of Europe's best-known digital companies, it invests in technology businesses that use software to transform customer experiences. For European early-stage founders, ProFounders Capital funding brings operators who have scaled companies themselves.

Investment thesis

The thesis is founder-led and customer-obsessed. ProFounders Capital backs technology-enabled business-to-business and business-to-consumer models that leverage software to improve how customers discover, buy and use products and services. Its investors and principals include people who built successful European digital companies. It seeks capital-efficient teams with disruptive models, and prides itself on an efficient, founder-respecting process.

Sectors and stages

The firm invests at the early venture phase, principally at seed and Series A, with some Series B follow-on. Its sweet spot, in its own words, is a company typically raising £1 million to €3 million to scale. Sectors are broad within technology: software and SaaS, fintech, health tech, travel, media, gaming and consumer services. It backs companies headquartered in Europe or with significant operations there, .

Fund size and cheque size

ProFounders Capital has raised three funds, with secondary reporting putting total assets under management at over £140 million. Its own stated initial investment range is £500,000 to £2.5 million, with scope and intention to support future financing rounds. Later profiles cite €500,000 to €3 million, some up to £5 million. Individual fund sizes are not publicly disclosed, so confirm current capacity in conversation.

Notable portfolio

GetYourGuide, the travel-experiences platform, Seedrs, the equity-crowdfunding platform, Lyst, the fashion-shopping platform, and Big Health, the digital therapeutics company, are among its best-known names. Others include Busuu, Blink Booking, Applifier, OneFineStay, Breakroom and Veri. Reported counts put the portfolio at around 85 investments with about 20 exits.

Partners

The firm was founded in 2009 by Brent Hoberman (lastminute.com), Michael Birch (Bebo), Peter Dubens, Jonnie Goodwin, Rogan Angelini-Hurll and Sean Seton-Rogers. Sean Seton-Rogers remains a general partner, Rogan Angelini-Hurll a co-founder and general partner, Michael Birch a founding partner and George Coehlo an investment partner. Hoberman left in late 2015, so do not pitch him as a current ProFounders partner.

Programs, credits and perks

ProFounders Capital does not run a public accelerator programme or publish a credits-and-perks package, and founders should not expect one. Its support is network and advice: help from former operators, introductions to corporates and founders, and a bridge between old and new media. For consumer or marketplace founders, that network — built by people behind lastminute.com and Bebo — is arguably the firm's main perk; probe it in portfolio reference calls.

How to apply for funding

There is no public application portal, so how to get funding from ProFounders Capital runs through its website contact route and, far more effectively, a warm introduction. The firm itself has long advised entrepreneurs against turning up unannounced with a business plan. The best route is an introduction from a portfolio founder, co-investor or network founder, with a concise pitch: a European tech company at early venture stage, a clear customer-experience improvement, capital-efficient growth, and a round in the £1 million to €3 million range.