UK’s Moonfire VC raises its second fund at $115M to aim at early stage startups


It was in the pandemic era of 2021 when we reported on the launch of moonfirethen a $60M “Fund I” startup stage with “data-driven” VC focused on the new world of remote working and remote pitching.

The new $115 million fundraising fund (“Fund II”) plans to continue its so-called “data-driven” approach.

Since its inception by the former Atomico co-founder Mattias LjungmanAccording to Moonfire, the company has built-in custom AI models and a tech stack to scout new potential startups.

A statement now claims that “up to 50,000 companies are checked each week” (although this claim has not been independently verified by TechCrunch).

However, it is claimed, for example, to have discovered the British fintech company LiveFlow via its AI engine and then led the pre-seed round together with Seedcamp.

The fund says it’s looking at companies in AI, Web3 and AR/VR, as well as health, work, finance and gaming.

Ljungman said the fund now combines its remote investing style with face-to-face meetings: “The face-to-face meetings are definitely happening more.” We do that monthly. We also have our Pulse Event and our Seed Event. That’s why we believe in integrating remote and face-to-face events.”

In addition to VCs such as Sequoia, Accel, Index, General Catalyst and Accel, Moonfire claims to have led 23 deals and co-invested in a further 27.

Portfolio companies include Humaans (raised $15M Series A funding), Lightdash ($7M funding led by Accel) and GOALS (Series A funding $20M with Seven Seven Six). In addition to its $90 million Fund II, the company has raised $25 million to invest through its Opportunity Fund.

Mike Arpaia, Partner at Moonfire Ventures, added, “The power of the AI ​​and VC partnership has always been at the core of Moonfire and we see that with the launch of Fund II, we’re taking it to the next level.” This new layer unites Man and machine like never before and hopes to turn an inefficient and unjust industry on its head.”

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