The firm is a VCT and EIS specialist which targets early-stage investment in UK technology businesses, focusing on scalable companies across marketplaces, platforms and software (SaaS).

The launch follows the announcement by the government of the extension of the VCT regime to at least 2035.

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The Fuel team is led by MyVoucherCodes founder Mark Pearson. His track record includes early exits from tech giant Adobe and US equity management platform Carta.

Wealth Club’s Nicholas Hyett commented: “Fuel Ventures is well known in venture capital circles for its rocketship emojis and irreverent memes.

“The focus on marketplaces, platforms and of course SaaS means its investments tend to be low in capital intensity with the potential for explosive growth and high margins.

“The manager will hope its new VCT can support the successful EIS and SEIS funds by providing funding to businesses at a later stage, while also opening up the manager’s portfolio to investors who are put off by the higher risk nature of EIS or SEIS investing.”

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