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The Venture Codex

London Co-Investment Fund

77 Gracechurch Street, London, EC3V 0AS, United Kingdom

Overview

The stated aim of LCIF is not to fund London tech businesses that otherwise would not get funded but rather to enable those who can raise, to raise significantly more so that they have a sufficient money, time and resources to prove their business model. This way London based tech startups will be more able to raise their next round of funding and thereafter become the great tech companies that London so wants and requires. The London Co-Investment Fund was launched by the Deputy Mayor of London on the 4th December at City Hall. LCIF six co-investment partners has been selected based on their excellent track records of investing and supporting early stage tech businesses in London.

Total investments
34
Lead investments
4
Investments · 12mo
0
Active investors
2

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Learnerbly

    Participated · Series A · Dec 2021

    Learnerbly operates an online marketplace offering books, podcasts, conferences, courses, coaching and more from over 250 providers including Blinkist, Masterclass, Pluralsight and General Assembly. The platform targets engineers, marketers, finance and sales teams at scaleups and midmarket companies (up to ~2,000 employees) and aims to support overstretched people teams with limited in-house L&D expertise. Clients named in the article include Hellofresh, King, WeTransfer, Curve, Busuu and GoCardless. The company has positioned itself amid larger learning platforms such as Workday Learning, Cornerstone and 360Learning while focusing on the midmarket. Founder Rajeeb Dey MBE previously scaled Enternships and remains a visible leader for the business. Learnerbly has gained traction in the shift to virtual and hybrid work driven by the COVID-19 pandemic and the “Great Resignation,” which the company and investors cite as increasing demand for L&D solutions. Learnerbly provides a curated professional development SaaS platform that matches employees to learning opportunities and captures feedback to assess impact. The platform curates recommendations through peer-to-peer insights and contributions from over 100 industry experts, and more than 50% of recommendations are free or low-cost. Employers can allocate learning budgets which employees spend on courses, books, conferences and coaching while HR gains visibility into choices and ROI. The company positions its product as a "Development Management System" focused on application of learning rather than solely knowledge acquisition. Enternships is the parent legal entity and will remain as a free, self-service jobs platform while Learnerbly operates as the paid development product. Learnerbly already counts clients including IDEO, carwow, and ustwo.

  • Vivacity Labs

    Participated · Series A · Feb 2021

    Viva develops AI sensors that gather anonymized data on how different street users move, detect near misses, and measure flows and congestion to inform transport decisions. Its sensors detect nine transport modes and have been deployed more than 3,500 times across seven countries, accumulating about 20 billion road user counts. The product is used to help authorities prioritize infrastructure projects and make roads safer and more sustainable. Viva emphasizes privacy-by-design and says its system is GDPR-compliant. The company is expanding into North America, starting with sensor installations in Manhattan, Brooklyn and Queens and a safety data analysis project with the New York City Department of Transportation. It is also broadening its product portfolio toward real-time systems (such as traffic signals) and targeted solutions for road safety, sustainable transport, and network optimization. Vivacity Labs builds AI-based traffic sensors and a traffic signal system that provide anonymous, real-time insight into road networks, infrastructure and how citizens use the city. Its products are designed to reduce congestion and encourage sustainable transport modes such as cycling and buses. The company works with government, regional bodies and local councils and has deployments and pilots with Transport for Greater Manchester, the Greater Cambridge Partnership and Cambridgeshire County Council. Transport for Greater Manchester is installing the traffic light system across 20 junctions this year. Vivacity plans to expand commercially into the Nordics, Benelux and Australia this year. The company also intends to double headcount and recruit across R&D/software development, sales and marketing and operations while keeping its manufacturing centre in Bletchley, Milton Keynes.

  • Duel

    Led · Equity · Oct 2020

    Duel offers an Advocate Relationship Management platform that lets retail brands such as Lush, ELEMIS, Victoria’s Secret, and Abercrombie & Fitch recruit, activate, and manage large networks of customer-advocates, creators, and ambassadors in a single system of record. The software tracks, rewards, and scales authentic advocacy behaviors, giving brands a measurable, always-on alternative to traditional performance advertising. Duel’s product roadmap includes deeper enterprise AI capabilities to automate the identification, segmentation, and activation of brand fans with hyper-personalized experiences. Fresh Series A capital will support the company’s U.S. expansion following its recent move into New York and fuel category thought-leadership through its Building Brand Advocacy podcast and community. Long term, Duel aims to establish Brand Advocacy as the default growth strategy not only in retail but also in sectors like B2B, music, hospitality, professional services, and entertainment. The company reports that 20–33% of a typical brand’s customers are already active creators and that its platform can manage tens of thousands of advocates with the resources traditionally needed for only a few hundred. Including the new round, Duel has raised more than $21 million to date.

  • Zamna

    Participated · Seed · Oct 2019

    Zamna provides a blockchain-based Advance Passenger Information (API) validation platform that securely verifies and connects biographic and biometric passenger data across airlines, airports and government agencies. Its system attaches anonymous tokens to already-verified data and uses cryptography so parties can validate identities without accessing raw personal information. Zamna says this “sharing without sharing” approach can reduce the need for manual or repeated checks by up to 90% and does not require new airport infrastructure. The platform is already being deployed by some airlines and immigration authorities, with deployments including Emirates and the UAE’s General Directorate of Residency and Foreigners (GDRFA). IAG is an existing investor and has become Zamna’s first commercial client, and the company recently rebranded from VChain Technology to Zamna. Zamna is a strategic partner to IATA and an active member of IATA’s One ID working group, and is working on digital transformation projects with IAG carriers including British Airways.

  • Stream

    Participated · Series A · May 2019

    Stream, founded in 2018 and formerly known as Wagestream, delivers a workplace finance platform that lets employees access earned wages early and use integrated tools for saving, budgeting, and financial planning. By partnering directly with employers, the company positions its services as low-cost alternatives to high-interest short-term credit products. Stream now works with more than 2,000 employer brands and serves about four million workers across the UK, Europe, and the United States. According to the company, members have collectively saved over $200 million by avoiding high-cost financial products. The platform has evolved to include savings pots, budgeting guidance, and affordable credit options, and Stream plans to add pensions next. Management intends to use new capital to deepen its product suite and accelerate U.S. and broader international expansion. To date, Stream has raised $228 million in total funding from a roster of more than 75 investors.

Team