Orion Fund enables tech start-ups to access finance

14 Feb 2012

The Orion Fund, launched by venture capital firm MTI, has unveiled a new £150 million fund for new technology start-ups in the hope of inspiring innovation and creating IT jobs.

As well as MTI, the fund also includes links with the Universities of Manchester, Edinburgh and University College London and with the £150 million on offer, it is the largest in the world.

Thanks to the help of the universities, the fund will be able to assess hundreds of applications for their potential with a number set to receive pre-seed funding to test their business strength.

Four leading investors will use their networks to join the fundraising effort and, speaking for the new partners, Sir Richard Heygate said: "The United Kingdom has always been one of the most innovative countries in the world, although sometimes it has lagged behind others in turning this creativity into world-ranking businesses.

"The new fund is well positioned to…create significant new wealth for our investors and our country."

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