Bebo and Lastminute founders launch fund for digital start-ups

Michael Birch, founder of social network Bebo, and Brent Hoberman, co-founder of Lastminute.com and Mydeco, are among entrepreneurs who have joined forces to launch an investment fund for digital start-ups.

Michael Birch
Michael Birch

Birch and Hoberman have teamed up with Peter Dubens, founder of Oakley Capital and Freedom4 Group, and Jonathan Goodwin, founder of LongAcre Partners.

PROfounders Capital aims to “be an active participant in early-stage ventures focused on the new business models of digital media and technology”.

The fund has appointed Sean Seton-Rogers as general partner. Previously he was with Balderton Capital where he worked closely with firms such as Bebo, TouchLocal and Wonga.com.

Hoberman said, “This is an opportunity for us to help nurture new initiatives at an important time when digital is becoming part of the fabric of our daily lives yet profits are increasingly flowing out of Europe.”

PROfounders Capital plans to announce additional investors to the fund.

This story first appeared on newmediaage.co.uk

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