Launched with the ambition to back the best consumer brands of the future, JamJar Investments has just secured a fund of over €119 million to continue investing in promising founders. A collection of institutional investors, founders and a crowdfund contributed to this round, including a cornerstone commitment of about €57.5 million from British Business Bank’s Enterprise Capital Funds (ECF) programme, making JamJar the largest ECF to date.
Founded in 2013 by the founders of Innocent Drinks – Adam Balon, Jon Wright and Richard Reed, with Partner, Katie Marraché – JamJar has grown to become one of the UK’s most active seed-stage consumer investors. It has backed some of Europe’s most famous challenger brands, including the likes of Deliveroo, Smol, Oatly, Papier, Wild and Babylon.
This second fund for the UK-based firm solidifies its position as the UK’s leading consumer fund, allowing them to continue supporting ambitious market disruptors. The JamJar partners are once again backing the fund with some of their own capital alongside that of the institutional investors.
JamJar has become well known for its ability to spot and support challenger brands that have the potential to become global players and there’s no doubt when looking at the company’s roster that it has played an impactful role in shaping Europe’s consumer offering since its launch.
This fundraiser was structured to enable institutional investors, JamJar’s portfolio founders and the crowd to participate on equal terms. Their founders and the public were invited to invest via a Seedrs crowdfund, with JamJar absorbing all fees, enabling investment on the same terms as larger LPs. The allocation for JamJar’s portfolio founders and the public was heavily oversubscribed, with the firm closing about €2.8 million for Fund II in just a matter of days. Over 30 of their Fund I portfolio founders took the opportunity to invest in the firm’s second fund.
Moving forward, the firm will continue to invest primarily at Seed or Series A stage, and, is aiming to make around 10 investments a year. Half of this new fund will be made available for follow-on investments.
With a 50:50 gender balance in their investment team and a commitment that all team members receive carry as part of the JamJar profit share ethos, the firm aims to put diversity and equality at the heart of all its decision making.
JamJar Partner, Katie Marraché, commented: “JamJar is looking forward to helping new category-defining brands win their fight. Consumer consciousness is in our blood and we are proud to be the first fund to absorb all Seedrs fees meaning our crowd has come in on exactly the same terms as larger LPs. ”
Ken Cooper, Managing Director, Venture Solutions, British Business Bank said: “The British Business Bank’s Enterprise Capital Funds programme is key in helping to develop and maintain effective venture capital provision in the UK, lowering the barriers to entry for emerging fund managers and for those targeting under-served areas of the market. Our cornerstone commitment to JamJar’s fund will help them to provide successful finance and support to early stage, high-potential UK consumer businesses.”
