North West VC Fearless Adventures has launched its maiden EIS growth fund, aiming to raise an initial capital pool of up to £5m.
Fearless Adventures plans to invest the funding in eight-12 businesses in the consumer, tech, and broader e-commerce space in the next 12-18 months.
Having built a specialist team, sights are now set on fundraising and deploying capital into the consumer/e-commerce technology space, unearthing high-value deals and plugging the skills and assistance gap left by generalist funds.
Founded in 2021 by three prominent figures within the British start-up scene, Dominic McGregor, David Newns and Charlie Yates, the trio are on a simple, yet powerful mission: to shape a future where fearless entrepreneurship can thrive.
As well as capital injection, Fearless Adventures offers wraparound support services to its portfolio companies. This includes growth marketing services, business intelligence, recruitment, fulfilment, financial management support, and mentorship.
The co-founders and their fellow investors, including the founders of Music Magpie, Simba Sleep, and Living Ventures, firmly believe this all-encompassing support is the key to achieving rapid growth within the sector and securing successful exits.
Aligning with their commitment as a signatory of the Investing in Women Code, Fearless Adventures (Investments) LLP, a Fearless Group Company, has made six investments to date, all female-founded or co-founded. Fearless also actively supports investment in traditionally underrepresented regions of the country, with a strong presence in the North West, a region known for its exceptional e-commerce footprint.
Over the past 12 months, Fearless Adventures (Investments) LLP has delivered 44% revenue growth across the portfolio via its capital investment and value-add, partnership-style wraparound services.
Portfolio partners include the first and only retail platform in the world dedicated to women’s football apparel, FOUDYS; sustainable and ethical household cleaning brand Miniml, and the £8m revenue natural pet food business, Pets Purest.
David Newns, co-founder of Fearless Adventures, said: “We’re hugely excited to launch our first EIS fund, this allows fans of Fearless an exciting opportunity to invest in the next set of incredible businesses that we will welcome into the fearless portfolio.”
Steve Oliver, Group CEO at musicMagpie and Fearless Adventures investor, said: “From the first time I met the team, I recognised our shared vision to positively impact the world by investing responsibly and with a ‘value-add’ mentality. The launch of our first EIS fund cements our commitment to helping businesses to grow and flourish.”
