Hoxton Ventures, the London-based ‘micro-cap‘ early-stage VC firm, has announced that it has raised $40 million for its first fund, with an aim to close at $50 million. Hoxton plans to make 4-6 investments per year, each typically at the high end of the $1-2 million range.

“There is a scarcity of firms writing the $1-5 million checks to early stage European startups,” says founding partner Hussein Kanji, echoing a commonly held sentiment. “Too many European investors prefer to wait for businesses to mature.” Alongside Kanji (formerly of Accel Partners), the firm counts Rob Kniaz (ex-Fidelity Ventures) as a founding partner, with SuperAwesome founder Dylan Collins on board as a venture partner. Two investments have already been made from the fund and it’s even seen its first exit, in the shape of Llustre’s acquisition by Fab (Update: the Llustre investment was actually made in a personal capacity by Kanji and Kniaz, along with one of Hoxton’s limited partners).

Hoxton Ventures

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