Thema Launches Venture Fund Platform to Support First-Time Fund Managers
Thema, a Pan European focused VC fund investor, has publicly launched its venture fund platform to support and provide capital to first-time fund managers looking to start their own venture capital businesses. This move by Thema aims to be a catalyst for the next wave of emerging managers, enabling them to launch venture capital strategies with an all-in-one package. The platform will act as a strategic cornerstone limited partner, offering financial support of up to €5.8 million, operational and regulatory assistance, office space, and curated LP insights. Thema plans to make commitments to four funds annually for the next three years.
How Thema Aims to Empower Emerging Managers in the VC Industry
Thema is targeting fund managers with strong track records as venture capitalists, angel investors, ex-entrepreneurs, and senior operators/community builders from the UK and Europe who are looking to launch their own standalone VC fund as general partners (GPs) for the first time. Thema recognizes the barriers and limitations that first-time GPs face in terms of capital, resources, and insights when entering the venture capital space. To address these challenges and enhance meritocracy within the industry, Thema extends its reduced setup costs and operational package to the wider market, resulting in an average reduction of first-year costs by 41% compared to other market offerings.
Thema’s Innovative Approach to Addressing Barriers in the VC Space
The idea for Thema was born out of the firsthand experience of its co-founders, Sam Ettelaie and George Askew, who have extensive backgrounds in the VC industry. Ettelaie, who previously worked for the UK’s largest limited partner, the British Business Bank, understands the challenges faced by first-time GPs when raising capital. Askew, himself an emerging manager, saw the operational complexities of running a fund and identified the need for a platform like Thema. By providing financial backing, expertise sharing, and support, Thema aims to level the playing field and address barriers to entry, including diversity and socioeconomic factors.
Meet the Co-founders of Thema: Sam Ettelaie and George Askew
Sam Ettelaie and George Askew, the co-founders of Thema, bring a wealth of experience to the venture fund platform. Ettelaie, with his background in deploying over £400 million of capital to first-time and emerging fund managers, has led investments into notable funds such as Concept Ventures, JamJar Investments, and Ada Ventures. Askew, an operationally experienced VC, has successfully built, invested in, and launched companies in various sectors. Together, they recognized the need for a platform like Thema that supports talented individuals in launching their own VC entities and brings visionary strategies to life.
Thema: Navigating the Regulatory Landscape and Catalyzing VC Investments
Thema’s team of four understands the complexities involved in launching a venture capital fund, including significant time commitment, upfront costs, legal expenses, and fund administration. The platform offers assistance to emerging fund managers in navigating the regulatory landscape and provides capital to overcome the financial barriers associated with raising a fund. Thema acts as a catalytic investor, being a first-cheque limited partner and using an innovative model to mitigate some of the barriers traditionally associated with the venture asset class. By offering this support, Thema aims to foster the growth of the VC ecosystem and encourage more investors to engage with emerging managers.
Analyst comment
Positive news: Thema Launches Venture Fund Platform to Support First-Time Fund Managers
Short analysis: Thema’s venture fund platform will provide capital, operational support, office space, and curated insights to first-time fund managers. This move aims to empower emerging managers and address barriers in the VC industry, resulting in reduced setup costs and operational packages. Thema plans to make commitments to four funds annually for the next three years, fostering the growth of the VC ecosystem. This is expected to have a positive impact on the market, attracting more investors to engage with emerging managers and encouraging diversity and socioeconomic factors in the industry.
