GMG Ventures Rebrands to Mercuri, Closes £50M Fund for AI-Driven Media Startups

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UK-based early-stage media technology venture capital firm GMG Ventures has rebranded to Mercuri and raised £50 million ($81.35 million) for its second fund. The fund, led by the British Business Bank through its Enterprise Capital Funds program, aims to back startups using artificial intelligence to reinvent traditional media models.

A New Chapter for GMG Ventures

The rebranding to Mercuri marks a new chapter for the venture capital firm, which was initially launched to support the development of new businesses amid disruptions in the media space. The Scott Trust, owner of the Guardian Media Group and Mercuri’s inaugural investor, participated in the latest fund, along with several other institutional, strategic, and angel backers.

Alan Hudson, Mercuri’s founding general partner, expressed excitement about the launch of their first multi-LP fund at a time when artificial intelligence is profoundly impacting the media technology ecosystem. He highlighted the firm’s commitment to use their team’s extensive knowledge to support the startups they invest in and create long-lasting value.

Mercuri’s Focus and Strategy

Despite the rebranding and diversified base of investors, Mercuri plans to continue leading seed stage investments, focusing on the creation, distribution, consumption, and monetization of content and data. The firm will pay greater attention to startups enhancing the way people communicate and engage in a professional and personal context using AI.

Mercuri has been investing in generative AI businesses since 2018, with a particular interest in creator tools, developer tools, and tools for thinking. The firm also actively invests in the creator economy, recognizing the growing number of creators globally making a living from it and accessing the development tools associated with it.

Mercuri’s Investment Portfolio and Future Plans

Mercuri invested in 21 startups in its first fund, including the accelerator and incubator Founders Factory. With the new fund, the firm plans to fund eight new products annually, while making several follow-on investments.

As the media technology landscape continues to evolve, Mercuri’s focus on AI-driven startups positions it at the forefront of this transformation. The firm’s commitment to supporting startups in creating long-lasting value underscores its role as a key player in the media tech venture capital space.

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