Notes &
perspectives.
Backing Bios Life: The intelligent OS for Cancer surveillance
TL;DR: BIOS Life has emerged from stealth with $25m in seed financing to build an AI-native cancer surveillance platform for high-risk individuals and cancer survivors.
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Scooped at a Discount: What Airtable Says About SaaS
What Airtable’s sale to Bending Spoons tells us about SaaS
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Backing Onyx: The Growth Partner for CSPs
TL;DR: Onyx has raised an inception round to build the growth platform for MSPs, enabling them to capture the $100bn of EA revenue shifting to CSPs within the Microsoft channel
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Navigating the MoD Procurement Maze
A breakdown of the current routes to securing a contract as a startup or SME in UK defence and what the system rewards.
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Backing Handshake: Retail’s Missing Ledger
TL;DR: Handshake has raised a $3.2m inception round to build a system of action for branded goods negotiations
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Mind the Gap: Venture’s Feast or Famine Market
I started in VC in 2021, which was a strange time to learn the job. Rounds were moving quickly, valuations were stretching, and plenty of companies that looked highly fundable were also benefiting from a very…
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The Case For Hardware-Enabled Software
VC Copium
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Backing Asterix: Enabling Healthcare Abundance
TL;DR: Asterix Health has raised a £2.1m inception round to build the workforce layer for modern healthcare, starting with primary care
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Not All Systems of Record Are Created Equal
Why did the data end up there in the first place?
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On-device vs Cloud
A synthesis
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State of UK Cyber 2026
Funding, exits, founders, and where we think the opportunity sits
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Dodgy Student Loans & Claude Code
Lessons from a Sunday morning with Claude Code
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Backing Lateral: Health & Financial Services for the 60+
TL;DR: Lateral has raised a £2.5m inception round to build the health and financial services platform for the 60+ mass affluent demographic.
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Is AI Actually Resetting Consumer Apps?
A consumer app renaissance? It’s probably worth saying upfront that I’ve historically been very bullish on consumer. I’ve always thought it’s been underloved by VCs, despite the fact that many of the strongest European outcomes over the last decade have been consumer-led. Companies like King, Vinted, Spotify and others created enormous value by building products […]
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Building In A K-Shaped World
What I’m Thinking About in 2026
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As Language Commoditises, What Comes Next?
Are barriers to scale starting to fall in Europe?
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Dealing with the Content Sprawl
Embrace the friction or risk outsourcing your taste
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Backing Jigcar: The Future of Logistics
TL;DR: Jigcar has raised a £3.0m seed round, led by Triple Point Ventures, to build the transport management system for automotive logistics.
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The Allocation Problem
AI doesn’t give you more time, it makes the allocation problem unavoidable
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Shifting Sentiment, Are Grads Cooked?
One Model Won’t Rule Them All?
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Conquered, We Conquer?
The “Trillion-Dollar Company” Complex
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Are Growth Buyouts Venture? You’re Asking The Wrong Question
Much ink has been spilled debating the pros and cons of growth buyouts (1,2,3,4 etc.), is this venture or not?
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Modo Energy closes $15m Series A round
Modo is building a global data-analytics platform for renewable energy assets, and a media brand setting the narrative for its industry.
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Backing Paloma Health: tech-enabled speciality care
Paloma Health has raised a £2m inception round to build a new tech-enabled healthcare provider, starting with children’s autism & ADHD diagnosis in the UK.
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Backing Heat Geek: the vetted community of heat-pump installers
Our first investment in the heat-pump sector, and why we look for software married to defensible non-software moats.
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Backing Fertifa: reproductive healthcare for employers
Fertifa is a tech-enabled reproductive-healthcare provider filling the gap between private medical insurance and the public health system.
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Backing Nory: the intelligent restaurant OS
Nory centralises the core operational functions of a hospitality venue into a single intelligent app, with customers reporting up to 20% EBITDA gains.
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