Two Magnolias

What Two Magnolias does

Two Magnolias is a London-based, FCA-authorised early-stage venture capital firm founded in 2019 by Jessica Rasmussen and Marie Korde. The firm invests £100k to £1m per deal (participating in raises from £0.5m upwards) into UK-incorporated, post-revenue seed through growth-stage companies operating in two thematic pillars: Transformational Economy (sustainability, climate, biodiversity) and Health Equity. Its stated mission is to back underrepresented founders — specifically women and ethnically diverse entrepreneurs — with a focus on globally scalable models. Over 4+ years the firm claims to have sourced and met with 500+ early-stage businesses, with a portfolio of 7 (and up to 12 named "Magnolias") companies spanning climate solutions, sustainable consumer goods, digital health, fintech, ESG reporting, women's health, defence tech, and sports wearables.

The firm's core proprietary asset is its "Intuitive Analysis™" investment framework, which combines quantitative cohort analysis and market-share modelling with qualitative founder and team assessment. Two Magnolias Investment Ltd operates as an appointed representative of The Fund Incubator Limited (FRN 208716), the regulated entity providing FCA authorisation. Investment evaluation is supported by a 9-member Advisory Board chaired by Peter Mather (former BP Head of Country UK / Regional President Europe), with sector expertise spanning energy, earth sciences, healthcare, psychology, nutrition, and investor relations. Day-to-day operations are run by a three-person internal team (two co-founders plus Head of Operations Roxanna Ramtin, ex-UBS/Morgan Stanley), with capital partner support from HSBC Innovation Bank, Squire Patton Boggs, and Apex Group for fund administration.

The business model is classic closed-end venture fund economics: Two Magnolias raises LP capital, deploys it into portfolio companies, charges management fees on AUM, and earns carried interest on exits. Specific fee structures, fund size, and committed capital are not publicly disclosed. The Fund Incubator Limited — its FCA principal — is reported to have grown AUM to over £80m, though this figure is not specific to Two Magnolias's own fund vehicle. Investor access is gated behind FCA Elective Professional Client classification, with geographic restrictions applying to US, Australian, Singaporean, and Hong Kong investors. Deal flow originates via the firm's website application form and UK early-stage networking.

Name

Two Magnolias

Legal name

Two Magnolias Investment Ltd

Website

https://www.twomagnolias.co.uk/

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Two Magnolias is a London-based, FCA-authorised early-stage venture capital firm founded in 2019 that invests £100k–£1m into UK companies in sustainability and health equity, with a stated focus on backing underrepresented (female and ethnically diverse) founders.

Ownership category

akta.pro rank

Product category

Venture Capital & Private Equity

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Secondary Venture Funds (VC Secondaries) (FSANAAAK)

Keywords

• Venture capital investing
• Early-stage equity funding
• Impact investment
• Fund management
• Portfolio management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Venture Capital Fund Management: Two Magnolias generates returns through equity investment in early-stage UK companies. As a dedicated impact investor, they invest in founders in the Transformational Economy and Health Equity sectors, with typical investment sizes ranging from £100k to £1m per company from post-revenue seed through growth & development capital stages. They participate in raises from £0.5m upwards and commit to follow-on investments.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Two Magnolias is an FCA-authorised UK venture capital firm that invests equity capital (£100k to £1m per company) in post-revenue seed through growth & development-stage UK-incorporated companies. The firm focuses on two thematic pillars — Transformational Economy and Health Equity — with a stated emphasis on underrepresented founders (women and ethnically diverse). It also delivers board-level advisory support and commits to follow-on funding for its portfolio companies.

Product overview

Two Magnolias is an all-female founded UK-based venture capital firm providing investment advisory and funding services to early-stage companies. Their core offering is the Intuitive Analysis™ Assessment Framework—a proprietary investment methodology combining inductive and deductive analytical techniques for evaluating founders and opportunities. They invest post-revenue seed through growth & development capital, with typical investment sizes of £100k to £1m, focused on two pillars: Transformational Economy and Health Equity. Their portfolio of 'Magnolias' includes 12 portfolio companies spanning sustainable consumer products (Seep, ape2o, Raylex Brands), health technology (Improvewell, Milbotix, The Better Menopause, Wholy Me, MoveTru), fintech (Sprive), ESG reporting (Future Plus), climate solutions (Balance), and advanced manufacturing (Vikela). The firm is committed to supporting underrepresented founders and closing the equity gap in UK venture capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Early-Stage Venture Capital Investment Equity investment offering for post-revenue seed through growth & development stage UK-incorporated companies, with typical investment sizes of £100k to £1m per company and participation in raises from £0.5m upwards. Targeted at underrepresented founders in the Transformational Economy and Health Equity sectors.
• Investment Advisory and Portfolio Support Board-level engagement and holistic partnership support provided to portfolio companies by the Two Magnolias founders, advisory board, and independent partners, alongside a commitment to follow-on investment in every deal.

Quantifiable outcome

• 500+ early-stage businesses sourced and evaluated over 4+ years
• +2 more outcomes

Named customers12 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Squire Patton BoggsminorImplementation/ SI/ Consulting PartnerSquire Patton Boggs is a full-service global law firm with offices in 45 offices across 20 countries. Their Financial Services Practice provides legal, regulatory and public policy services to financial services sector participants. Listed as an Independent Partner on Two Magnolias's website.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Atomico: European venture firm investing in early to growth-stage technology companies including climate and health. Comparable as a European early-stage VC with overlapping health and sustainability themes, though at significantly larger AUM.
• Octopus Ventures: One of the UK's largest early-stage VCs, deploying across multiple verticals including health and sustainability impact themes. Comparable to Two Magnolias as a UK-based early-stage investor with a portfolio approach, but operating at materially larger AUM scale.

Direct peers

• ClearlySo: UK-based impact investment advisory and fund manager connecting investors with impactful businesses. Comparable to Two Magnolias as a UK impact-investment intermediary operating in the early-stage and growth segments.
• Green Angel Ventures: UK early-stage VC specialising exclusively in climate-tech and sustainability startups. Comparable to Two Magnolias in focusing on transformational economy themes within a UK early-stage mandate, though with a narrower single-pillar focus.
• Resonance: UK-based impact investment firm running multiple funds focused on social enterprise, health, and sustainability. Comparable to Two Magnolias in deploying mission-aligned capital into UK early-stage businesses.
• Nesta Impact Investments: UK impact investment vehicle focused on early-stage businesses with measurable social and environmental outcomes. Comparable to Two Magnolias in deploying early-stage capital to UK companies delivering impact in health and sustainability.
• Bethnal Green Ventures: Early-stage UK VC focused on tech-for-good founders, providing small pre-seed and seed tickets. Closely comparable to Two Magnolias in mission-driven early-stage investing in the UK with explicit impact thesis and small ticket sizes.
• Bridges Fund Management: UK-based impact-focused investment manager with venture and growth strategies spanning health and sustainable economy themes. Directly comparable to Two Magnolias in combining measurable impact mandates with venture-stage investing in UK companies.
• Big Issue Invest: UK-based social enterprise investment arm of The Big Issue, supporting early-stage impact businesses. Comparable to Two Magnolias in mission alignment around underrepresented founders and impact-first early-stage deployment in the UK.

Emerging players

• Social Tech Trust: UK-based investor supporting early-stage tech ventures delivering social impact. Comparable to Two Magnolias in deploying early-stage capital to mission-driven UK founders, though typically at smaller pre-seed ticket sizes.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/twomagnolias.co.uk
• LinkedInlinkedin.com/company/two-magnolias-ltd
• Instagraminstagram.com/two.magnolias

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Two Magnolias