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Angel Investor (Individual)

Investments

79

Portfolio Exits

6

About Taavet Hinrikus

Taavet Hinrikus has an entrepreneurial mindset and likes things that are simple, reliable and cost no more than they should. As employee #1 at Skype, he remembers when all employees could fit around a kitchen table for meetings. During his tenure, he helped build that team into a company that delivers free long-distance calls to hundreds of millions of people worldwide. He has since helped various companies as an angel investor and advisor. At TransferWise, Taavet looks after marketing, product development, PR, and investor relations.

Headquarters Location

United Kingdom

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Latest Taavet Hinrikus News

UK DeepTech gets another boost with new $100M SCVC fund out of Bristol

Sep 14, 2023

Europe has far too few VCs created by former founders, or “Operators” as the industry often likes to call them. More recently Plural was created by Taavet Hinrikus (ex-Wise), Sten Tamkivi (ex-Teleport) and Ian Hogarth (ex-Songkick). But that “operator-turned-VC” list quickly runs out across the European tech scene. But now that story switches to Bristol, England. Harry Destecroix co-founded biotech startup Ziylo while studying for his PhD at the University of Bristol. Ziylo, a university spin-out, developed a synthetic molecule that binds to glucose in blood. But to do this he decided he wanted to be surrounded by like-minded ‘SciTech’ companies. So, in 2017 he launched Unit DX, an incubator, in collaboration with the University of Bristol, to commercialize companies like his own. Three years later, in 2020, Destecroix exited Ziylo to Danish firm Novo Nordisk — which had realized it could use Ziylo’s molecule to unlock a ‘smart’ insulin — in a deal estimated to be be worth over $800m . Destecroix used his exit to to repeat the exercise of creating deep-tech, science-based startups, again, in Bristol. He launched ‘tech ecosystem’ “Science Creates” consisting of the UnitX and Unit DY wet labs, and a £15 million investment fund with the University and a network of strategic partners. Fast foward to today, and Destecroix has now taken that journey further with the launch of SCVC , which is now aiming to be a $100 VC million fund, and claims to have reached its first close (at an undisclosed amount). The Bristol-based firm will invest in deeptech around health and climate. Over a call Destecroix told me: “It’s been two years and I feel like the more I’ve invested, the more I’ve got addicted to it. It’s been a wonderful journey. And I also feel there’s not enough founders in the UK that ended up going into venture. So we want to build we want to build a venture fund that’s really founder-led.” SCVC’s first $17 million Seed fund (prior to the switch to full-blown VC) backed 12 companies ranging from therapeutics and diagnostics to quantum sensors and semiconductors. Recent investments include ‘Delta g’ (quantum gravity sensors) and Isomab (biotech), and Scarlet Therapeutics (red blood cell-based therapeutics). The new fund will invest at pre-seed and seed stage with initial cheque sizes of $500k up to $3m. It will also provide follow-on funding of Series A tickets up to $7m. The fund’s first investment is VyperCore, RISC-V start-up developing modified processors. Destecroix is joined by SCVC cofounder Jon Craton, an Angle investor and former co-founder of Zynstra which was was acquired by NCR Corporation. Bristol-based founder John Williams, co-funder of the floated Kudan (artificial perception technologies) joins as the firm’s first Venture Partner. Destecroix explained: “What we do is we specialise in the 1% of startups that come from science, that seem crazy to the outside world. What do you mean you need to raise millions of pounds? What do you mean you don’t even know what your product is like? This. This type of startup is crazy to most people who run conventional businesses. So of course you need to wrap around them a very unique and specific set of skill sets.” Prior to the recent news that the UK would be re-joining the EU’s Horizon science funding programme, Destecroix criticised Brexit. “I definitely think it hasn’t helped,” he said. “It’s made it harder to fund a fund in terms of European investors… I feel like we need to be part of these bigger trading bloc’s to come together to really go after some of these very big issues like energy and AI.” However, he backed the UK’s approach to AI: “I think the EU is over-regulating it and I think UK is taking a much more nimble approach. I’ve heard from startups from France who are thinking of moving to the UK. We need to think of AI being applied to everything: government, life sciences, healthcare.” The news of SCVC will be a shot in the arm for Bristol’s booming tech scene which already boasts companies such as Ultrahaptics, Open Bionics, Graphcore and Immersive Labs.

Taavet Hinrikus Investments

79 Investments

Taavet Hinrikus has made 79 investments. Their latest investment was in Open Cosmos as part of their Series B on September 9, 2023.

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Taavet Hinrikus Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/10/2023

Series B

Open Cosmos

No

3

8/7/2023

Series B

Meatable

$35M

No

5

9/15/2022

Seed VC

Arbonics

$1.8M

Yes

2

7/14/2022

Series A

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$99M

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10

6/29/2022

Series C

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$99M

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10

Date

9/10/2023

8/7/2023

9/15/2022

7/14/2022

6/29/2022

Round

Series B

Series B

Seed VC

Series A

Series C

Company

Open Cosmos

Meatable

Arbonics

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Amount

$35M

$1.8M

$99M

$99M

New?

No

No

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

5

2

10

10

Taavet Hinrikus Portfolio Exits

6 Portfolio Exits

Taavet Hinrikus has 6 portfolio exits. Their latest portfolio exit was Coinfloor on October 04, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/4/2021

Acquired

$99M

1

11/12/2020

Acq - Fin

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$99M

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10

6/18/2020

Acquired

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$99M

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10

1/14/2020

Acquired

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$99M

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10

8/10/2016

Acquired

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$99M

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10

Date

10/4/2021

11/12/2020

6/18/2020

1/14/2020

8/10/2016

Exit

Acquired

Acq - Fin

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

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