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Draper Esprit [Annual Review 2020]
Finance and Risk Capital
Impact for scaleups
37
Companies backed
34%
Follow-on investment
46%
Investment outside of London
23
Growth-stage investments
Key sectors
Draper Esprit invests in seed, venture and growth-stage companies based in Europe.
The firm makes between ten to 20 new investments annually, including follow-on. Its investment approach is ‘incremental’, investing small amounts early while reserving more capital for later stage rounds. Notable scaleups which it has supported include Graphcore, Ravelin, PrimaryBid, IESO Digital Health, POD Point and PushDoctor.
Founded in 2006, the fund invests throughout Europe, with offices in London, Dublin and Cambridge. It invests in four sectors: consumer technology, enterprise technology, hardware and electronics, and digital health and wellness. Its core vision is to take a long term view on any investment and provide the capital to enable firms to reach their full potential. As a listed VC firm, it says that it is “free from five-year fund cycles;” and in October 2020 it raised £110m on the public markets: the capital will be deployed across a combination of larger investment rounds, follow-on opportunities and new dealflow, typically Series A and beyond.
The firm has a strategic partnership with Earlybird Digital West to share resources, talent, and dealflow opportunities, particularly in the German speaking market. The firm’s network of partners in Asia, the US, and the Middle East helps its portfolio companies to internationalise with commercial connections and funding. The firm says it has increased dialogue with its portfolio companies and provides operational support and advice, particularly in relation to accessing various elements of the Government’s financial assistance packages.
