The Venture Codex

Participated · Series A · Aug 2025

Approov offers patented cloud‑first app attestation and runtime API protection as an alternative to brittle code obfuscation, defending against rooted devices, emulators, tampering frameworks and credential‑stuffing bots. Its technology is used by customers in healthcare, fintech, connected vehicles and e‑commerce and the company says it reduces API attacks by over 95%. Approov supports fragmented platforms including non‑GMS Android and HarmonyOS and enables developers to distribute apps directly to consumers, potentially reclaiming up to 30% of revenues typically lost to platform fees. The company plans to use the funding to bolster its Research & Development team in Edinburgh and to develop advanced, real‑time technologies to secure mobile applications and APIs against evolving, including AI‑driven, threats. Approov emphasizes its intellectual property and positions itself as an independent app and API security provider amid regulatory shifts such as the EU Digital Markets Act and evolving UK laws. The company operates from Edinburgh, Scotland and Palo Alto, California and focuses on authenticating mobile app instances and protecting backend APIs from fraud, abuse and unauthorized access.

Participated · Equity · May 2012

Virgin Mobile Latin America is an MVNO targeting Latin America led by Chairman & co-Founder Phil Wallace. The company raised US$26.5m in new equity funding. Backers include existing shareholders the Virgin Group and ePlanet Capital, alongside new investors Hermes Growth Partners, CANEPA and Souter Investments. The company intends to use the capital to further develop its regional business and to launch services in Chile. It plans to expand the Virgin Mobile brand throughout Latin America and has targeted launches in seven further markets, including Colombia, Brazil, Argentina and Mexico. Virgin Mobile Latin America joins a network of Virgin Mobile operations in seven countries (Australia, Canada, France, India, South Africa, UK and the USA) serving 15 million mobile subscribers. In conjunction with the funding, Juan Villalonga joined the company’s Board of Directors.