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With £100M second fund, JamJar Investments aims to back aspiring challenger brands

JamJar Investments
Image credits: JamJar Investments

JamJar Investments, a British VC firm, has raised a fund of over £100 million. The investment came from institutional investors, founders and via a crowdfund. It also includes a cornerstone commitment of £48 million from the British Business Bank’s Enterprise Capital Funds (ECF) programme, thereby making JamJar the largest ECF to date.

Second fund for JamJar

This fundraise was structured to enable institutional investors, JamJar’s portfolio founders and the crowd to participate on equal terms. Their founders and the public were invited to invest via a Seedrs crowdfund, with JamJar absorbing all fees, enabling investment on the same terms as larger LPs.

The £1 million allocation for JamJar’s portfolio founders and the public was heavily oversubscribed, with the firm closing £2.4 million for Fund II in a matter of days. Interestingly, nearly 30 of the VC’s Fund I portfolio founders took the opportunity to invest in the firm’s second fund.

What’s more, this second fund is the first institutionally backed fund for JamJar. It is aimed to solidify its position as the UK’s leading consumer fund and allow them to invest in and support an even greater number of ambitious founders. This fund will be used by JamJar Investments to expand its ability and back early-stage consumer brands across the UK and Europe. With this fund, the VC firm will back a new generation of challenger brands.

JamJar Partner, Katie Marraché, commented: “JamJar is looking forward to helping new category-defining brands win their fight. Consumer consciousness is in our blood and we are proud to be the first fund to absorb all Seedrs fees meaning our crowd has come in on exactly the same terms as larger LPs. ”

Ken Cooper, Managing Director, Venture Solutions, British Business Bank said: “The British Business Bank’s Enterprise Capital Funds programme is key in helping to develop and maintain effective venture capital provision in the UK, lowering the barriers to entry for emerging fund managers and for those targeting under-served areas of the market. Our cornerstone commitment to JamJar’s fund will help them to provide successful finance and support to early stage, high-potential UK consumer businesses.”

Portfolio of Investments

JamJar Investments was launched in 2013 by the founders of Innocent Drinks – Adam Balon, Jon Wright and Richard Reed alongside Partner Katie Marrache. The partners created JamJar Fund I two days after leaving Innocent. Now, it aims to do the same for the next generation of entrepreneurs.

Initially, it invested just the partners’ own capital and later progressed to become the most active seed-stage consumer investor in the UK.

The notable aspect of the VC investor is its ability to spot and help the challenger brands with the potential to become global players. This capability has played an impact in shaping Europe’s consumer offerings for almost a decade.

Another aspect that sets it apart is 50:50 gender balance in the investment team and a commitment to give all team members a part of the JamJar profit share ethos.

JamJar Investments has backed many best-known challenger brands in Europe. Its portfolio includes a bunch of physical and digital customer products, such as Deliveroo, Babylon, Smol, Oatly, Papier, theUp.co, and Wild Cosmetics. Initially, JamJar invests in Seed or Series A rounds under £5 million. Its initial investment ranges from £500k to £3 million.

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