Fuel Ventures
Fuel Ventures is a UK venture capital fund manager operating multiple tax-efficient vehicles (EIS, SEIS, VCT) to deploy approximately £400m of AUM into 210+ early-stage technology companies from pre-seed to Series A, earning revenue through management fees and carried interest on exits.
- Company typePrivate
- Founded2013
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Fuel Ventures does
Fuel Ventures is a UK venture capital fund manager founded in 2013 by Mark Pearson, focused on backing early-stage technology companies from pre-seed through Series A. The firm operates a multi-vehicle platform comprising Fuel Ventures Fund 1 (EIS, launched 2015), a Follow-On EIS Fund (launched 2019), an SEIS Fund (launched 2020), and a Venture Capital Trust listed on the London Stock Exchange (2023). Together these vehicles manage approximately £400m in assets under management, deployed across 210+ portfolio companies spanning SaaS, FinTech, marketplaces, platforms, climate-tech, health-tech and AI, with a stated cadence of 30+ new first-cheque investments and 20 follow-on rounds per year at typical ticket sizes of £250k to £5m. Notable exits include ContentCal's sale to Adobe (~$110m), Capdesk's sale to Carta (~$88m), three exits within the Follow-On EIS Fund (£77m deployed across 57 investments), and an early stake in Paddle (now a $1.4bn UK unicorn).
The firm generates revenue from recurring management fees (typically 1-2% of AUM) on its SEIS, EIS, Follow-On EIS and VCT vehicles, supplemented by carried interest (typically 20%) on portfolio exits. Fuel Ventures Limited operates as an FCA appointed representative of Palace Ventures Limited (firm reference number 433291), is headquartered at Bishopsgate in the City of London (with a registered office in Ramsgate, Kent), and distributes LP capital through direct investor relations, a Typeform-driven documentation request flow, the London Stock Exchange (VCT) and Republic Europe (Follow-On EIS Fund). A 1,850+ LP base — exited technology entrepreneurs, financial services professionals, family offices and corporate investors — underpins the platform, alongside a Portfolio Perks programme that gives portfolio founders discounted access to partnered software and infrastructure providers. The firm is multi-award winning, having taken home Best SEIS Manager (2023), Best EIS Manager (2022), Best New Product (2024) and Best Investor Return (2024) at the Growth Investor Awards, plus an EISA Industry Advocate commendation.
The team is small (11-50) and entrepreneur-led: founder and Managing Partner Mark Pearson previously built MyVoucherCodes to a £55m exit and was an early investor in Paddle; Managing Partner Michael Burnett authored the firm's 2026 investor letter on AI as an economic enabler; Partner Oliver Hammond is featured on the homepage under a 'created by entrepreneurs for entrepreneurs' positioning. Recent (2025-2026) deal cadence is heavy across AI, FinTech, climate-tech and health-tech themes, with frequent co-investors including Oxford Capital Partners, Concrete Ventures, Antler, Founders Factory, Innovate UK and Workplay Ventures (Mark Pincus).
Fuel Ventures firmographics
Firmographics- Name
- Fuel Ventures
- Legal name
- Fuel Ventures Limited
- Website
- https://fuel.ventures
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fuel Ventures is a UK venture capital fund manager operating multiple tax-efficient vehicles (EIS, SEIS, VCT) to deploy approximately £400m of AUM into 210+ early-stage technology companies from pre-seed to Series A, earning revenue through management fees and carried interest on exits.
- Ownership category
- akta.pro rank
Fuel Ventures industry classification
Industry- Product category
- Venture Capital Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industries
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ), Renewable Energy & Energy Transition Funds (FSANAJAB)
Keywords
Where Fuel Ventures is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices3 records
Markets served
Fuel Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others, Technology or R&D
Revenue model
- Fund Management Fees: Recurring management fees charged on £400m of Assets Under Management across the SEIS Fund, EIS Fund, Follow-On EIS Fund and Fuel Ventures VCT. These are standard VC management fees (typically 1-2% of AUM annually) that provide the operating revenue of the firm.
- Carried Interest on Exits: Performance-based carried interest (typically 20%) earned when portfolio companies are exited. Notable realizations include ContentCal sold to Adobe for c.$110m, Capdesk sold to Carta for c.$88m, plus returns from Paddle. The firm has reported three exits within the Follow-On EIS Fund.
- Capital Gains on Direct Investments: Fuel Ventures' founder Mark Pearson personally invests in every fund and has built a separate personal investment portfolio (e.g., early investor in Paddle, a $1.4bn UK unicorn), generating direct capital returns on equity stakes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Typical investment ticket sizes |
| Other | — | Follow-On EIS Fund on Republic Europe |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Fuel Ventures product offering
Product offeringCore offering
Fuel Ventures is a UK venture capital fund manager that deploys early-stage capital (typically £250k–£5m) into UK technology startups from Pre-Seed to Series A. It runs a multi-vehicle fund platform (SEIS Fund, EIS Fund, Follow-On EIS Fund, and an LSE-listed VCT) and supplements capital with operational support, follow-on participation, and a Portfolio Perks programme of discounted software and infrastructure for portfolio founders.
Product overview
Fuel Ventures is a single-firm UK venture capital platform rather than a multi-product technology company, organised around a family of complementary investment vehicles that together cover the full early-stage funding lifecycle. The core offering is Fuel Ventures Fund 1, an EIS fund launched in 2015 for pre-seed to Series A UK technology startups. It is augmented by the 2019-launched Follow-On EIS Fund, which allows existing investors to double down on successful portfolio businesses, and by the 2020-launched Fuel Ventures SEIS Fund, which targets the very earliest stage under SEIS rules. In 2023 the firm extended its reach by listing the Fuel Ventures VCT on the London Stock Exchange. Underpinning all of these financial products is the Portfolio Perks programme, which gives portfolio companies discounted access to partnered software and infrastructure providers alongside operational and capital-access support from the Fuel Ventures team.
Differentiator
Problem solved
Functional benefit
Brands
- Fuel Ventures Fund 1: Inaugural venture capital fund launched by Fuel Ventures in 2015.
- Fuel Ventures Follow-On EIS Fund
- Fuel Ventures SEIS Fund
- Fuel Ventures VCT
Products and services
- Fuel Ventures Fund 1
- Follow-On EIS Fund
- Fuel Ventures SEIS Fund
- Fuel Ventures VCT
- Portfolio Perks
Quantifiable outcome
- ContentCal exited to Adobe for c.$110m
- +5 more outcomes
Companies that use Fuel Ventures
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Fuel Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
Fuel Ventures partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Palace Ventures LimitedcoreFuel Ventures Limited operates as an appointed representative of Palace Ventures Limited, which is authorised and regulated by the Financial Conduct Authority (firm reference number 433291). Palace Ventures provides the regulatory umbrella that allows Fuel Ventures to conduct fund management and investment activity in the UK.
- Republic EuropecoreRepublic Europe is the distribution platform hosting the Fuel Ventures Follow-On EIS Fund. The fund has deployed £77m across 57 investments with three exits and significant returns; making the fund available on Republic Europe broadens retail and accredited investor access to follow-on rounds in successful portfolio companies.
- Fuel Accelerator Program (Bentonville, Arkansas)minorReference to a 'Fuel Accelerator Program' celebrating its 2026 health-tech cohort in Bentonville, Arkansas. This is a US-based health-tech accelerator distinct from Fuel Ventures (the UK VC), suggesting a shared brand name; described as supporting startups with curriculum, capital access and mentorship.
- Founders FactorycoreCo-led WealthAi's pre-seed funding rounds with Fuel Ventures (€837k / $1m). Founders Factory brings incubator-style operational support alongside Fuel Ventures' capital, evidencing a recurring co-investment partnership in early-stage UK AI.
- PACE and ICEEDminorCo-hosted stakeholder workshop in Abuja with FuelTree on Nigeria's clean cooking MRV framework. Note: this refers to FuelTree Limited (a separate Nigeria-focused clean cooking company), not Fuel Ventures the UK VC; included for completeness only as it shares the 'Fuel' prefix in name.
Scale indicators9 records
Recent moves10 records
Expansion highlights6 records
Fuel Ventures competitors and assessment
Company assessmentBroad incumbents
- Octopus Ventures: One of the largest UK VCs and a recent co-investor alongside Fuel Ventures in Flexzo AI's Series A. Operates multiple SEIS/EIS/VCT products and a much larger AUM base, making it a broader incumbent in the same early-stage UK tech category.
Direct peers
- Mercia Ventures: Direct UK regional VC that co-invested with Fuel Ventures in HowNow's Series A. Operates a comparable regional early-stage fund platform with EIS/VCT vehicles and a focus on UK tech startups, making it a closely comparable peer in strategy and ticket size.
- Antler: Global pre-seed investor with a strong UK presence and follow-on participation in Tyten alongside Fuel Ventures. Comparable in deal cadence (many small first-cheque rounds per year) and founder-first positioning, though Antler operates a global rather than UK-only mandate.
- Oxford Capital Partners: UK SEIS/EIS manager that co-led deals with Fuel Ventures in Arcube and Egregious. Direct peer in fund vehicle structure, target stage (pre-seed/seed), and UK tax-relief investor base.
- Maven Capital Partners: UK regional VC manager running multiple VCT and EIS funds with comparable ticket sizes to Fuel Ventures. Direct peer in regulated fund vehicle structure and UK regional early-stage strategy.
- Praetura Ventures: UK-based early-stage VC offering EIS and follow-on structures targeting UK tech founders. Directly comparable in stage focus, regional UK concentration, and active investor positioning.
- Haatch Ventures: UK SEIS/EIS fund manager focused on pre-seed and seed software and SaaS startups. Comparable in stage focus, fund vehicle mix, and entrepreneur-led positioning.
- ACF Investors: UK SEIS/EIS investor (formerly Crowdcube Capital) running actively managed EIS funds targeting early-stage UK startups — directly comparable in fund structure, target stage, and tax-relief investor base.
Emerging players
- Founders Factory: UK incubator/VC that co-led WealthAi's pre-seed with Fuel Ventures. Comparable as an early-stage UK investor with operational support alongside capital, though its model leans more incubator than pure fund.
- Concrete Ventures: Early-stage VC that co-led Tyten's round alongside Fuel Ventures. A smaller emerging player in the UK early-stage ecosystem with overlapping stage focus and sectoral mix.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Fuel Ventures social profiles
Digital presenceFuel Ventures compliance and trust
Trust signalCompliance1 record
Fuel Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fuel Ventures leadership team
Management profileNumber of profiles
Profiles5 records
Fuel Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fuel Ventures M&A and investment
M&A and investmentM&A
Investments227 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fuel Ventures
What does Fuel Ventures do?
Fuel Ventures is a UK venture capital fund manager that deploys early-stage capital (typically £250k–£5m) into UK technology startups from Pre-Seed to Series A. It runs a multi-vehicle fund platform (SEIS Fund, EIS Fund, Follow-On EIS Fund, and an LSE-listed VCT) and supplements capital with operational support, follow-on participation, and a Portfolio Perks programme of discounted software and infrastructure for portfolio founders.
Is Fuel Ventures a public or private company?
Fuel Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Fuel Ventures founded?
Fuel Ventures was founded in 2013. It employs 11 to 50 people.
Where is Fuel Ventures based?
Fuel Ventures is headquartered in London, United Kingdom, in the Europe region.
How does Fuel Ventures make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest on Exits and capital Gains on Direct Investments.
Who are Fuel Ventures's main competitors?
Octopus Ventures is listed as a broad incumbent. Direct peers are Mercia Ventures, Antler, Oxford Capital Partners, Maven Capital Partners, Praetura Ventures, Haatch Ventures and ACF Investors. Emerging players are Founders Factory and Concrete Ventures.
Does Fuel Ventures have an API?
No public API is recorded for Fuel Ventures.
What industry is Fuel Ventures in?
Fuel Ventures's product category is Venture Capital Fund Management. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms. Its NAICS code is 52394 and its SIC code is 6282.