# Mercuri VC

> Mercuri is a London-based early-stage venture capital fund and investment firm investing at the intersection of media, entertainment and AI. We lead pre-seed and seed funding rounds for UK media technology and AI companies building technology that transforms how people connect, create and consume. Our portfolio includes Hugging Face, Fluidstack, Resemble AI, Kickstarter, Mozart AI and Signal AI.

## About

Mercuri was founded in 2017 by Alan Hudson in Kings Cross, London (formerly GMG Ventures). Our first fund of £42m was anchored by The Scott Trust, owner of the Guardian Media Group. Our second fund of £50m launched in May 2023 with the British Business Bank as cornerstone investor.

We are a certified B Corp and co-founder of Reframe Venture (formerly VentureESG). We invest in 6-8 companies per year and reserve 40% of the fund for follow-on investment. We often take board seats and work actively alongside founders post-investment. Mercuri is authorised and regulated by the Financial Conduct Authority.

We define media technology broadly: any product or technology with a clear role on the content and data value chain — creation, distribution, consumption and monetisation. Our target initial investment is £500k to £1m. We make 6-8 investments per year across two funds totalling £92m AUM. 73% of our portfolio companies have gone on to raise a subsequent round. 60+ investments to date.

## Sector Focus

Mercuri invests at the intersection of media and AI — which is essentially the content lifecycle. How content is created, distributed, consumed and monetised now permeates every part of our digital environment, and AI is transforming each stage faster than any previous technology shift.

We define media technology broadly: any product or technology with a clear role on the content and data value chain. We back pre-seed and seed founders building across this lifecycle, and also invest in the frontier models and agentic capabilities that power it.

### Creation
Creation is less about individual AI tools and more about operating AI-natively. We back tools and platforms enabling the next generation of content — generative AI, NLP, computer vision, audio and speech synthesis, content generation, gaming and game engines, music technology, creator economy platforms, XR and immersive experiences, synthetic data, AI upskilling and developer tools.

Key themes: creator tools, workflow management, quality and authenticity over volume, agent infrastructure, building data moats.

Think companies like OpenAI, Hugging Face, Stability AI, Synthesia, Canva, Figma, Colossyan, Runware and Epic Games.

### Distribution and Discovery
Distribution is about optimising not just for people but also for agents, while balancing discoverability and trust. We look for companies reshaping how content reaches audiences — search and GEO, next-generation advertising, retail media, MarTech, attention economy platforms, world models and vertical internet of agents.

Key themes: cross-platform readiness, agent-native distribution, audience engagement, oversight and moderation, security, human networks.

Think companies like Perplexity, Reddit, ByteDance, Instagram and Acast.

### Consumption
Consumption is evolving beyond screens into personalised, ambient, real-life AI experiences. We back the future of work, collaboration, communication, EdTech, information services, data dashboards, enterprise decision making and AI upskilling tools.

Key themes: personalised, native, immersive and live experiences, consuming high volume information, video intelligence and social listening, AI as the interface, user-centricity including agency and safety.

Think companies like Zoom, Slack, WhatsApp, Loom, Tableau, Hebbia, Granola and Speechify.

### Monetisation
Monetisation is being rewired around AI-native economics. We invest in AdTech, licensing, live experiences and immersive technology, retail and commerce optimisation, e-commerce, live shopping and retail media networks.

Key themes: creator economy, AI advertising, AI economy and business models, AI gatekeeping and payment rails, data monetisation and context as an asset.

Think companies like Hopin, Passionfroot and Pro Rata AI.

### Foundational Infrastructure
We also back foundational infrastructure that powers the value chain — AI inference compute, data moats, optimisation, embodied AI and web3 where it is content value chain relevant. Think companies like CoreWeave, Pinecone and Akkio.

### Frontier Technologies
Beyond the value chain, we also invest in the frontier technologies that power it — AI infrastructure, foundation models, agentic systems and other emerging technologies that often originate within media and entertainment but scale far beyond it. Full details at https://www.mercuri.vc/frontier-technologies

### We do not invest in
Healthtech, fintech, cleantech, defence, agritech, mobility, real estate, life sciences, industrial manufacturing or aerospace.

## How to Pitch Us

Mercuri is a first-cheque investor and will often be the first venture capital fund into a round. Founders should send decks directly to pitch@mercuri.vc.

Mercuri VC, Kings Place, 90 York Way, London N1 9GU.

## Engaged Investor Approach

Mercuri takes a hands-on, engaged approach to investment — going beyond capital to actively support founders from pre-seed through to exit, across five pillars: People (talent, options schemes, compensation benchmarking), Strategy & Product (commercial introductions, AI strategy support, PR workshops), Fundraising (VC network access, non-dilutive funding, venture debt), Governance (climate reporting, board seat support, D&I programmes) and Corporate Development (exit support, M&A advice).

## Team

- [Alan Hudson](https://www.linkedin.com/in/alan-hudson-vc/) — Founding General Partner, formerly Chief Investment Officer at Guardian Media Group and Director at Merrill Lynch
- [Denise Xifara](https://www.linkedin.com/in/denise-xifara-vc/) — Co-Founder and Venture Partner, Oxford PhD, deep tech and data science expert
- [Esha Vatsa](https://www.linkedin.com/in/esha-vatsa/) — Partner, 10 years venture capital experience, 6 years corporate finance
- [Anna Jones](https://www.linkedin.com/in/annajones3/) — Investment Committee Chair, CEO Telegraph Media Group, formerly CEO Hearst UK
- [Ella Harrison](https://www.linkedin.com/in/ella-harrison-066977163/) — Senior Investment Associate, formerly Credit Suisse equity research
- [Hannah Green](https://www.linkedin.com/in/hannah-l-green) — Operations Director, formerly Waverton Investment Management
- [Dyson Bogg](https://www.linkedin.com/in/dyson-bogg-035264/) — Venture Partner, formerly Macquarie Private Equity and Sovereign Capital
- [Tony Lewis](https://www.linkedin.com/in/tlewisprofile/) — Venture Partner, formerly Merrill Lynch and Macquarie Group
- [Tyler Lawes](https://www.linkedin.com/in/tyler-lawes-ca-7745a2b6/) — Finance Director, CA and member of ICAS, previously finance lead at a Mayfair private equity firm

## Portfolio: Active Investments

- [A Million Ads](https://www.amillionads.com): personalised dynamic audio advertising platform
- [Amble](https://www.amble.app/): AI-powered immersive language learning app for French, Spanish and Italian
- [Axio AI](https://axio.ai/): cyber risk quantification and insurance platform
- [Chatterbox](https://www.chatterbox.io): AI-powered language learning for enterprises
- [Decoded](https://decoded.com): data literacy and digital skills training platform
- [Electric Twin](https://www.electrictwin.com/): synthetic audiences built from customer data for enterprise decision-making
- [Ergodic AI](https://www.ergodic.ai/): builds a living model of your operation so you and your agents can predict outcomes and choose the strongest move before it touches the real business
- [Founders Factory](https://foundersfactory.com): venture studio and accelerator building startups across industries and geographies, 500+ companies
- [Geometric AI](https://geometric.so/): LLMs x evolution for autonomous GPU optimisation
- [Gibran](https://gibran.ai/): nature-inspired adaptive AI research platform augmenting human creativity and scientific discovery
- [GVT Labs](https://gvtlabs.com/): enterprise video intelligence platform turning large video libraries into searchable AI-indexed data
- [Hugging Face](https://huggingface.co): open source AI and machine learning platform
- [ittybit](https://ittybit.com/): video processing and media infrastructure API for developers
- [Kickstarter](https://www.kickstarter.com/?ref=nav): crowdfunding platform for creative and entertainment projects
- [Kult](https://joinkult.gg/): fan engagement and community platform, gaming co-pilot
- [Kyra](https://www.kyra.com): creator economy and influencer marketing platform
- [Lichen AI](https://lichenai.co/): human-centred AI design and workflow ethnography platform
- [Literal Labs](https://www.literal-labs.ai/): logic-based AI platform delivering faster inference with no GPU required
- [Made With Intent](https://www.madewithintent.ai/): retail personalisation and shopper intent platform
- [Minitap](https://www.minitap.ai/): AI-powered mobile development and autonomous QA testing platform for iOS and Android
- [Mozart AI](https://mozartai.com/): AI music generation and composition platform
- [Oorbit](https://www.oorbit.com): cloud gaming and interactive entertainment streaming platform
- [Pinnacle](https://pinnacle.co/): AI-powered mental performance and human coaching platform
- [Resemble AI](https://www.resemble.ai): AI voice cloning and text-to-speech technology, plus real-time multimodal deepfake detection and watermarking for enterprise
- [Scroll AI](https://www.scroll.ai/): AI-powered news summarisation and media discovery platform
- [Seated](https://seatedapp.io/): earn rewards for reservations, takeout and delivery
- [Sensity](https://sensity.ai): deepfake detection and synthetic media security platform
- [Signal AI](https://signal-ai.com/): media intelligence and reputation monitoring platform
- [SpokenLayer](https://www.spokenlayer.com): audio content and text-to-speech publishing platform
- [Streetbees](https://www.streetbees.com): consumer insights and market research platform using AI
- [Unakin AI](https://www.unakin.ai): AI-powered game development and NPC behaviour platform
- [Unbox](https://www.unbox.social/): the operating system powering creator-led commerce for global brands
- [Unit1 Studio](https://unit1.studio/): producing best-in-class, hyper-realistic avatar concerts
- [Unlock Protocol](https://unlock-protocol.com): blockchain-based membership and access protocol
- [Vidsy](https://www.vidsy.co): video creative platform for social media advertising
- [Wonder Studios](https://wonderstudios.com/): AI-native film studio empowering emerging talent and building a new era of storytelling
- [Byway](https://www.byway.travel/): sustainable flight-free travel platform combining AI trip planning and human concierge
- [Black Ballad](https://blackballad.co.uk/): media and membership platform for Black British women
- [Simulon](https://simulon.com/): real-time 3D simulation and virtual production platform
- [Storyblok](https://www.storyblok.com/): headless CMS and content management platform for digital media

## Portfolio: Exits and Former Investments

- [Faculty AI](https://faculty.ai/en-gb): applied AI company and recognised leader in AI safety, working with labs including OpenAI, Anthropic and Meta; acquired by Accenture
- [Human Native AI](https://www.humannative.ai/): AI-powered media buying and advertising optimisation, acquired by Cloudflare
- [Papercup](https://www.rws.com/localization/services/translation-services/video-and-audio-translation/ai-dubbing-and-vo/): AI-powered video dubbing and localisation platform; technology acquired by RWS, team joined Scale AI
- [Radical Motion](https://www.autodesk.com/products/flow-studio/overview): AI motion capture and animation technology for film and games, acquired by Autodesk
- [Fanbytes](https://www.brainlabsdigital.com/brainlabs-acquires-leading-influencer-marketing-agency-fanbytes/): influencer and social media marketing agency for Gen Z brands, acquired by Brainlabs
- [Feedr](https://feedr.co/): workplace food and meal delivery platform, acquired by Compass Group
- [Flourish](https://flourish.studio/): data visualisation and storytelling platform, acquired by Canva
- [Fluidstack](https://fluidstack.io/): AI cloud infrastructure platform building dedicated GPU data centres for frontier AI labs, valued at $18B
- [Landvault](https://tech.eu/2024/07/09/infinite-reality-acquires-uks-landvault-in-450m-deal-to-boost-immersive-tech/): metaverse building and immersive world development studio, acquired by Infinite Reality for $450M
- [Manawa](https://www.manawa.com/en): outdoor adventure booking platform
- Newsroom AI: AI-powered PR and media monitoring platform (no longer operating)
- Abydos AI: ESG intelligence platform (no longer operating)
- Airsupply: on-demand teacher and substitute-matching marketplace (no longer operating)
- Alegra: SaaS e-commerce company helping brands build digital platforms for content and e-commerce simultaneously (no longer operating)
- Entale: interactive podcast and AI technology platform, acquired by DMGT (no longer operating)
- Eterlast: web3 gaming platform for sports and entertainment brands (no longer operating)
- Glimpse Protocol: AI-powered consumer trend intelligence platform (no longer relevant to current portfolio)
- Gyana: no-code data analytics and business intelligence reporting platform (no longer operating)
- Headstart: AI-powered recruitment and candidate screening platform (no longer operating)
- Iris Nova: direct-to-consumer beverages and conversational commerce platform (no longer operating)
- Metavrse: 3D and spatial computing consultancy (no longer relevant to current portfolio)
- Serelay: photo and video authentication platform (no longer operating)
- Teams GG: esports community and team management platform (no longer operating)
- Yabal: now operating as part of Granola Studios (no longer operating independently)

## Key Pages

- [Homepage](https://www.mercuri.vc): Mercuri VC overview
- [Portfolio](https://www.mercuri.vc/portfolio): full active and exited portfolio
- [Approach](https://www.mercuri.vc/approach): our investment approach
- [Sector Focus](https://www.mercuri.vc/sector-focus): sectors and thesis detail
- [Content & Data Value Chain](https://www.mercuri.vc/content-data-value-chain): our investment framework
- [Frontier Technologies](https://www.mercuri.vc/frontier-technologies): technologies we track
- [Engaged Investor](https://www.mercuri.vc/engaged-investor): how we support founders post-investment
- [Team](https://www.mercuri.vc/team): partner and team bios
- [Governance](https://www.mercuri.vc/governance): fund governance and policies
- [Blog](https://www.mercuri.vc/blog): news and portfolio updates
- [Sustainability Disclosures](https://www.mercuri.vc/sustainability-related-disclosures): ESG and sustainability reporting

## Recent Blog Posts

- [Backing Electric Twin: AI Decision Intelligence and Synthetic Data](https://www.mercuri.vc/blog/electric-twin)
- [Mozart AI: Putting Artists Back at the Centre of AI Music Creation](https://www.mercuri.vc/blog/mozart-ai)
- [From Seed to Unicorn: Backing Faculty AI, acquired by Accenture](https://www.mercuri.vc/blog/faculty-ai)
- [Minitap: Bringing AI-Driven Coding to Mobile Apps](https://www.mercuri.vc/blog/minitap)
- [Wonder Studios and the Future of AI-Native Storytelling](https://www.mercuri.vc/blog/wonder-studios)