UK venture capital (VC) company Episode 1 has announced £76 million in funding.

The ten-year old firm, which focusses on getting pre-seed and seed B2B software companies to a successful Series A, said that the fund was it’s third and “biggest yet”.

The company added that the move would enable it to back a new generation of B2B firms with between £250,000 and £3 million in funding.

Episode 1 now has plans to invest in organisations developing AI, as well those producing computational bio and HealthTech innovations.

"We’d love to do more open-source and software infrastructure deals, and of course we’ll continue our focus on disruptive SaaS companies where we’ve had plenty of historic success and experience," said the company. "Although we’re looking primarily for companies with a UK footprint, we will be making some investments in US and European-based companies where we feel we have something unique to offer.

"It’s also great to be able to welcome a whole host of new institutions and individuals to our fund family, and of course welcome back some old friends such as British Patient Capital and Molten Ventures."

The VC firm's combined portfolio spans across 70 companies, including such as Carwow, Huboo, CloudNC, Raft, Robin AI, QuestDB and Omnipresent.

The business says that around 75 per cent of its Fund 2 portfolio companies have gone on to raise a Series A.

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