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fund:AI for Founders
If you are a founder looking for funding from one of the regions most active tech investors we would love to hear from you.
If your company is solving a business problem with data and AI and you are looking for investment we could be the fund for you!
We typically invest in companies who are already generating revenue and who are outside of the North and South East. If that’s you then get in contact!
From early meetings with the team at River Capital, it was clear that they understood what we have now & where we are going, which is crucial”
Ben Sweeney, Founder VidiVet
FAQs
Frequently Asked Questions
What exactly is Fund AI?
fund:AI is the first Northern dedicated AI fund, managed by River Capital Management Limited. We invest in early-stage AI-enabled companies and tech-enabled businesses with untapped big data sets that have high growth potential. We’re part of the MSIF group and have been investing across the North for over 30 years.
What stage companies do you invest in?
We invest in early-stage companies that have an established proof-of-concept and commercial viability. We’re looking for businesses seeking seed or development capital to accelerate their growth or build out their platform.
What size investments do you make?
We invest in early-stage companies that have an established proof-of-concept and commercial viability. We’re looking for businesses seeking seed or development capital to accelerate their growth or build out their platform.
What sectors are you interested in?
fund:AI is an Alternative Investment Fund (AIF) which is managed by FCA regulated fund manager River Capital Management Ltd. The fund only invests in EIS qualifying companies enabling its investors to maximise the associated tax allowances of the scheme. It is geographically focussed outside of London and the South East (the North) although we have a 20% provision to invest elsewhere.We focus on AI, data science, and machine learning companies across multiple sectors including:
- HealthTech
- AgriTech
- EdTech
- MarTech
- Internet of Things
- Robotics
- Cyber Security
- Data Science as a Service (DSaaS)
- Video Gaming
Do you co-invest with others?
Yes, we often co-invest alongside other funders (equity or debt), institutional investors, angel syndicates, or central government grant vehicles like UKRI. We have a strong co-investment network and have helped companies raise an additional £350m in leveraged third-party funds.
What use of funds do you support?
We provide capital for:
- Launch and expansion of products
- Creation and expansion of data science teams
- Creation of IP/product from untapped big data sets
- Integration of complex LLM workflows
What fees does the investee company pay?
- One-time arrangement fee: up to 3% of funds invested
- Annual monitoring fee: up to 2% of funds invested
What does EIS mean for my company?
EIS (Enterprise Investment Scheme) is a UK government scheme that provides tax reliefs to investors. Your company must meet specific criteria to qualify, including:
- Gross assets not exceeding £15m before investment (£16m after)
- Fewer than 250 full-time equivalent employees (or 500 for Knowledge Intensive Companies)
- Must be carrying out a qualifying trade
- First commercial sale within 7 years (or 10 years for Knowledge Intensive Companies)
Speak to us
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