Finn Murphy wants to back pre-seed start-ups tapping into software trends
Nebular, which will be based in New York, will target pre-seed start-ups, aiming to back around 16 companies from the fund. Photograph: iStockFormer Frontline Ventures partner Finn Murphy is raising a $20 million fund to back start-ups in the US and Europe.
Nebular, which will be based in New York, will target pre-seed start-ups, aiming to back around 16 companies from the fund. It is looking to tap into software trends at an early stage, such as developer tools for non-developers, local AI – small models on portable devices – and “second order effects of demographic change”, including healthcare operations and manufacturing software.
The fund is pitching itself to founders as a lead partner at the earliest stage, providing support but allowing founders to focus on their area of expertise. The investments are expected to be split evenly between the US and Ireland, with the limited partners backing the fund close to a 50/50 mix too. These include Workvivo chief executive John Goulding, Pointy’s Mark Cummins and Localyze chief executive Hanna Asmussen. Institutional investors Untitled, Ninja Capital, RSJ and K8 Capital are also believed to have backed the fund.
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