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16 June 20
16 June 20
Triple Point is teaming up with the Evening Standard to support innovative early stage businesses in the UK. The partnership is designed to back the entrepreneurs and innovators of the future.
More than 20 “unicorn” businesses were launched in the last economic crisis as people with great ideas either left their existing jobs or found themselves out of work with time to launch their dream business. Airbnb, Slack, Pinterest and Uber are among the best known.
Through KickStart, Triple Point will target early stage businesses that have yet to raise funding. We will invest ticket sizes of between £100-£150k in companies with pre-money valuations of between £1m-£1.5m, usually as the first external money into a business. The goal is to provide founding teams with an investment decision within 10 business days of applying, making cash available within 21 days.
Triple Point’s Daniel Cardenas-Clark commented that covid-19 has lowered the cost of starting a business due to cheaper office rents and advertising rates, creating huge opportunities for start-up businesses.
“The world is now a different place than it was before the lockdown and the way we used to do almost everything has changed. This change has brought with it an array of opportunities for innovative start-ups and creative entrepreneurs. Triple Point are delighted to have partnered with the Evening Standard to fund the next generation of talented founders during this difficult time”.