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Outward VC

Outward VC is a London-based firm backing impactful fintech startups. Whilst the firm is not actively labelling itself as an impact fund, it does prefer to back companies that positively impact society.
Outward VC
Leadership team

Devin Kohli (Co-Head, Investment Committee)

Kevin Chong (Co-Head, Investment Committee)

Andi Kazeroonian (Investment Manager)

D'Arcy Whelan (Investment Associate)

Manuel Espinosa (Investment Analyst)

Headquarters
London, United Kingdom
Established
2017
Social Media
Summary

Outward VC is a London-based venture capital firm with a keen focus on nurturing early-stage fintech startups in the United Kingdom and the European Union. Founded in 2017 by Devin Kohli and Kevin Chong, the firm has rapidly emerged as a catalyst for innovation in the financial technology sector. Outward VC's portfolio boasts a diverse range of pioneering companies, including Curve, Monese, PrimaryBid, and Vauban, each addressing significant challenges within the finance and technology industries.

What sets Outward VC apart is not just its financial backing but its unwavering commitment to building enduring partnerships. The firm's founders and team members are deeply engaged with the startups they support, offering not only capital but also invaluable guidance, global networks, and expertise. Outward VC's mission revolves around propelling startups to become influential players on the global stage, all while fostering a culture of innovation and a dedication to solving complex issues in the financial services landscape. With a unique blend of sector specialists, a mission-driven approach, and a track record of supporting startups through thick and thin, Outward VC continues to be a driving force behind the future of fintech innovation in Europe and beyond.


History

Outward VC is a London-based venture capital firm that specializes in investing in early-stage fintech startups in the United Kingdom. Founded in 2017 by Devin Kohli and Kevin Chong, the firm primarily focuses on late-seed to Series A stage companies. It has a track record of making strategic investments in fintech firms that are headquartered in the UK.

Outward VC's investment strategy includes allocating a substantial portion of its fund for follow-on investments in its portfolio companies. This approach demonstrates the firm's commitment to supporting the growth and scaling of the startups it invests in.

As of 2019, the startups backed by Outward VC had collectively raised a substantial amount of follow-on investment totalling £125 million. Some of the key investments made by Outward VC include Monese, Curve, and Bud, all of which have become influential players in the fintech sector. The firm's investments have shown strong performance, with an average multiple of four times the initial investment.

Outward VC benefits from the global reach of its founding investors, Investec Bank plc and NIBC. Their extensive networks span Europe, Asia, Australia, Africa, and the US, providing Outward VC's portfolio companies with opportunities for global expansion.

The firm emphasizes its alignment with founders and other shareholders of the companies it invests in, allowing it to make investment decisions independently and in the best interests of the startups. Outward VC continues to seek attractive investment opportunities in the vibrant London fintech ecosystem and is dedicated to announcing new portfolio companies as part of its growth strategy.


Investment criteria

Focus on Fintech Startups: Outward VC is primarily focused on early-stage fintech startups. They are particularly interested in companies operating in the financial technology sector.

Geographical Focus: The firm invests in startups in the UK and the EU, emphasizing their commitment to supporting fintech innovation within these regions.

Stage of Investment: Outward VC appears to invest in startups at the early stages of their development, likely ranging from seed to Series A rounds.

Global Ambitions: They seek startups with global ambitions, indicating an interest in companies that have the potential to scale and expand beyond their initial markets.

Evidence of Traction: Outward VC looks for startups that can demonstrate clear evidence of traction. This may include metrics such as user adoption, revenue growth, or other indicators of market validation.

Mission-Driven Teams: They prefer startups with mission-driven teams, suggesting that founders who are passionate about solving specific problems or making a positive impact may align well with their investment philosophy.

Investment Sweet Spot: Outward VC's investment sweet spot seems to be companies that are raising funding in the range of £1-6 million.

Network and Support: The founders' testimonials highlight the firm's role in providing support beyond just capital. They mention Outward VC's deep understanding of the fintech space, global network, and support during both good and challenging times.

Commitment to Long-Term Journey: Outward VC appears committed to supporting the startups they invest in throughout their journey, indicating a long-term partnership approach.

It's important to note that while these insights provide a general understanding of Outward VC's investment criteria, the specific criteria and preferences of venture capital firms may vary,


Values

While the specific values of Outward VC are not explicitly outlined, we can infer several values and principles that appear to guide their approach and investment philosophy:

Entrepreneurial Partnership: Outward VC values a partnership approach with the entrepreneurs and founders they invest in. They emphasize their commitment to enabling founders and their ideas, indicating a strong belief in collaboration and mutual success.

Long-Term Commitment: The firm seems to value long-term relationships with the startups they invest in. Their commitment to supporting founders throughout their journey, even during challenging times, reflects a dedication to enduring partnerships.

Mission-Driven Focus: Outward VC expresses a preference for startups with mission-driven teams. This suggests a value for companies that are passionate about addressing specific challenges or making a positive impact in the financial technology sector.

Global Network: The founders' testimonials highlight Outward VC's global network, which suggests a value placed on leveraging their extensive connections and relationships to benefit portfolio companies.

Support Beyond Capital: Outward VC values its role as more than just a source of capital. They aim to provide additional value by offering support in various aspects, such as hiring, finance, business development, and more, reflecting a commitment to the holistic growth of their portfolio companies.

Alignment with Founders: The firm's emphasis on alignment with founders and other shareholders indicates a value for shared visions and goals between the fund and its portfolio companies.

Innovation: As a fintech-focused venture capital firm, Outward VC likely values innovation and technology-driven solutions. They may seek startups that are pioneering new approaches to solving problems in the financial services industry.

While these inferred values provide insights into Outward VC's approach, it's essential to recognize that specific values and principles may vary between venture capital firms.


Mission

While there is no specific mission statement provided on their webpage, Outward VC's mission is inherently reflected in their actions and focus. They are dedicated to propelling early-stage fintech startups in the UK and EU, supporting visionary entrepreneurs who are committed to solving global challenges in financial services and related sectors. 

Their mission centres on fostering innovation, building lasting partnerships, and leveraging their extensive network to empower founders on their journeys to create positive impacts in the world of finance


Portfolio

The provided information highlights Outward VC's portfolio, which consists of a diverse group of startups led by founders who share common attributes such as boldness, intelligence, and a strong belief in improving various aspects of the industries they operate. Here are some of the notable companies that have been a part of Outward VC's portfolio:

Anorak: Anorak is likely a reference to the insurtech company Anorak Technologies, which focuses on helping individuals make informed decisions about life insurance.

Aventus: Aventus is a blockchain-based protocol designed for event ticketing and combating fraud in the ticketing industry.

Bud: Bud is a fintech company that connects various financial services and products into a single platform to help users manage their money more effectively.

ClearGlass: ClearGlass is a platform that provides transparency and analytics for institutional investors to assess the costs and performance of asset managers.

Curve: Curve is a neobank that offers a single card for all your banking needs and aims to simplify financial management.

eXate: eXate provides technology solutions for data privacy, enabling organizations to protect and manage sensitive data.

Finverity: Finverity is a supply chain finance platform that connects businesses to alternative sources of working capital.

Flyp: Flyp is likely a reference to a company or platform related to mobile phone number portability or communication services.

IFG (Intelligent Financing Group): IFG is a financial services company, and the specific service it provides may vary.

Infact Systems: The exact nature of Infact Systems' business and services is not provided, but it may relate to information technology or data solutions.

Januar: Januar is likely a reference to a specific company or startup, but further details are not provided.

Keyzy: The nature of Keyzy's business is not specified, but it may relate to software or technology solutions.

Mazepay: Mazepay is likely a reference to a company or platform related to payment processing or financial technology.

Monese: Monese is a financial technology company that offers online banking services tailored for European residents.

Oneday: Oneday is likely a reference to a specific company or startup, but further details are not provided.


References
Outward VC
Leadership team

Devin Kohli (Co-Head, Investment Committee)

Kevin Chong (Co-Head, Investment Committee)

Andi Kazeroonian (Investment Manager)

D'Arcy Whelan (Investment Associate)

Manuel Espinosa (Investment Analyst)

Headquarters
London, United Kingdom
Established
2017
Social Media