The company formerly known as Nova Growth Capital has confirmed it has rebranded to Built Venture Capital Limited. The company now operates under the trade names ‘Built Ventures’ and ‘Built’.
They will continue to be the investment adviser to the Nova Cofoundery SEIS & EIS Fund (the ‘Fund’), while the Nova Cofoundery SEIS & EIS Fund will remain the same. The Fund will be open and available for investors’ deployment for the 23/24 tax year up until the end of March 2024.
Investors who have subscriptions with the company will be used to them talking about the ‘Nova Cofoundery’ model.
Cofoundery was a phrase they adopted when the Fund was initially launched back in late 2018, to describe how the current deal flow partner works with founders to create a business. Nearly five years later, this process and methodology is becoming more common and recognised in the venture capital space as ‘Venture Building’.
Venture Building follows a systematic and risk mitigation approach to creating and scaling startups. It is a major focus for the organisation, therefore the name change better reflects how and why they invest.
Alistair Marsden, CEO of Built Ventures, said:
“Built is borne out of an obsession with trying to understand why early stage tech startups fail while others succeed and importantly, asking the question; is it possible to put a structure and process to mitigate the high failure rate experienced in venture capital?”
“We are also looking to expand our organisation and strategy to the benefit of investors. We are incredibly excited to seek dealflow into not just one venture builder/studio, but multiple!”
There will be little to no material difference for investors who have subscriptions within the Nova Cofoundery SEIS & EIS Fund, as this is merely a name change for the company.
