Business Wire

Founders launch Plural: a €250m fund for fellow ‘Unemployables’ building Europe’s next generation of tech companies

Share

Plural, a new investment platform started by the founders and backers of Europe’s most significant tech companies, has unveiled today a €250m early stage venture fund (Plural Platform SCSp RAIF, “Plural”) to back the next generation of founders with global ambitions.

Set up by Ian Hogarth, Khaled Heloui, Sten Tamkivi and Taavet Hinrikus - with other recognised founders who will announce themselves soon - Plural is a scalable investment platform whose investors are exclusively former founders and operators with decades of company building experience.

Plural was founded because the Plural founders saw that across Europe the vast majority of investors lacked experience of building tech businesses. In Europe just 8% of investors are former operators, in contrast to more than half of tech investors in the US. Plural’s founders believe that the scar tissue from building tech companies is invaluable in helping the next generation of founders to build companies with global potential.

Plural’s intention is to be a more hands-on investor, with a focus on leading early stage rounds between €1 and €10m.

The Investment Manager’s investment committee have commented as follows:

Taavet Hinrikus, co-founder of Wise, said: “We’re the investors we would have liked to have when we were building our own companies. Founding a company is a craft and the best way to learn that craft is to work alongside those who have done it before.”

Ian Hogarth said: ‘We call experienced founders 'unemployables', because once you've experienced the intense authorship that comes with creating something new it's hard to work for anyone again. Plural was created to give unemployables a place to call home and put their entrepreneurial energy behind missions and founders they deeply believe in.”

Khaled Helioui said: “So much opportunity is left untapped today as exceptional founders often fail to meet standard investors’ pattern recognition criteria. Sadly investors lack the risk appetite needed to fulfill founders’ ambitions and consequently the full impact founders seek can not be realised. By changing the funding mechanisms that act as conservative gatekeepers today we can unlock so much potential.”

Sten Tamkivi said: “We are huge optimists for the potential of technology coming from Europe which can benefit the whole world, as well as improve the lives of people across the continent. We’ve already seen the real impact a well-funded startup scene can have on economies in small countries like Estonia — now it is time to scale this GDP level impact across the whole of Europe."

Between them Taavet, Sten, Ian and Khaled have founded four startups - Wise, Songkick, Teleport and Certific - and played a significant role in building three companies, including Skype, Bigpoint and Topia. All four operators turned investors have also been angel investing for years, with significant success. Companies in their portfolio include Deliveroo, Hopin, Pipedrive, Chorus, Uber, Zego and Bolt. As Plural, they have already invested in 14 companies including Feather, NFTport an NFT infrastructure company, energy storage company Field, metaverse company Ready Player Me and student banking challenger MOS.

About Plural: Set up by founders for founders, Plural is a €250m investment platform which is investing early stage venture capital in exceptional European tech companies. Its investors with scar tissue support founders to build tech companies that can make a GDP impact. https://pluralplatform.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Antonella@Burlington.cc
07530815018

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 202213.8.2022 09:59:00 CEST | Press release

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), today reported its second quarter 2022 financial results, recording quarterly revenue of AED 7.01 bn and net profit of AED 2.61 bn. For the first half of 2022, DEWA’s revenue is AED 12.08 bn and net profit is AED 3.30 bn. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005416/en/ Dubai Electricity and Water Authority PJSC announces AED 12.08 billion revenue and 3.30 billion net profit in the first half of 2022 (Photo: AETOSWire) DEWA’s first half revenue increase of 15% to AED 12.08 bn was mainly driven by an increase in energy and water demand in Dubai. During the first half of 2022 energy demand increased by 6.3% and water demand by 6.4% compared to the same period in 2021. Revenue of DEWA’s majority owned subsidia

Mary Kay Inc. Continues Its Support of Women’s Empowerment at the International Women’s Forum Cornerstone Conference in Chile12.8.2022 18:33:00 CEST | Press release

Mary Kay Inc. continues its support of women’s entrepreneurship, empowerment and thought leadership as a sponsor of the 2022 International Women’s Forum (IWF) Cornerstone Conference. Taking place on 17-18 May in Santiago, the Conference convened global decision makers who explored the most pressing challenges to progress on gender equality for the Latin American region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005257/en/ IWF Latinobarómetro MKI Latin American Women Democracy & Society from a Gender Perspective Research (Graphic: Mary Kay Inc.) For the first time ever, IWF commissioned groundbreaking research as part of its annual conference programming with funding by Mary Kay. Conducted by the Latinobarómetro founded by Marta Lagos, this research, titled “Latin American Women: Democracy & Society from a Gender Perspective,” is the first-ever analysis of a quarter of a century (1995-2020) of public opinion and at

Ipsen Completes Acquisition of Epizyme Expanding Its Portfolio in Oncology12.8.2022 17:35:00 CEST | Press release

Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) today announced the closing of the definitive merger agreement under which Ipsen has acquired Epizyme, Inc. (Epizyme). Pursuant to the transaction, Ipsen acquires all outstanding shares of Epizyme for $1.45 per share plus a contingent value right (CVR) of $1.00 per share. Epizyme now operates as ‘an Ipsen company’ at deal close. As part of the transaction, Ipsen acquires Epizyme’s lead medicine, Tazverik® (tazemetostat), a first-in-class, chemotherapy-free EZH2a inhibitor, which was granted Accelerated Approval by the U.S. Food and Drug Administration (FDA) in 2020. It is currently indicated for adults with relapsed or refractory follicular lymphoma (FL) whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies, and for adult patients with relapsed or refractory follicular lymphom

Budweiser Celebrates 100 Days to The FIFA World Cup™ by Partnering with Messi, Neymar Jr. and Sterling to Drop Hundreds of Prizes For Fans Around the World12.8.2022 13:00:00 CEST | Press release

Tomorrow, Budweiser, an Anheuser-Busch InBev (AB InBev) global brand will “drop” prizes in select destinations in the lead up to the biggest global sporting event. As the Official Beer of the FIFA World Cup, Budweiser is giving fans the once-in-a-lifetime chance to experience the FIFA World Cup in person by dropping hundreds of red prize boxes in major cities that include signed memorabilia, a year’s supply of Budweiser, and the grand prize of a trip to the tournament. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005051/en/ Budweiser's QR code (Graphic: Business Wire) Beginning August 13, coordinates leading to prize boxes will be revealed to fans who scanned exclusive Budweiser QR codes. These exclusive QR codes were shared on Budweiser and athlete partner social accounts earlier this week, spurring curiosity and excitement from eager fans. QR codes appeared in locations commemorating Messi, Neymar Jr. and Sterling;

Q4 Inc. Announces Second Quarter 2022 Results12.8.2022 13:00:00 CEST | Press release

Q4 Inc. (TSX:QFOR) (“Q4” or the “Company”), a leading capital markets communications platform, today announced its financial results for the three and six months period ended June 30, 2022. All amounts are expressed in US dollars unless otherwise stated. “The second quarter results show our continued progress against our overall strategy and vision,” said Darrell Heaps, CEO of Q4. “We achieved double digit recurring revenue growth, driving product adoption with higher ARPA expansion growth, as our customers continued to renew subscriptions at record levels and increase their spend with Q4. Given the challenging macro environment, and with our peak investment period behind us, we are accelerating our path to profitability. With a focus on expanding our operating leverage, initiatives are underway to improve sales efficiency and utilize low cost geographies to drive down operating expenses. Combined with our gross margin expansion, these will bring forward our commitment to be cash and E