Hitesh Thakrar is the chairman of the Investment Committee of Newable Ventures Limited (NVL), a post seed/pre-series A, Enterprise Investment Scheme (EIS) Fund focused on deep technology.
Newable Private Investing (NPI) and NVL fill a vital gap in the venture capital market. ‘Companies we invest in have a product or service that has been developed and validated with early stage sales, but they need extra capital to build a sales pipeline before moving to series A,’ explains Thakrar. ‘The fund has made investments in areas such as medical devices, new software languages, space technology, bioinformatics and sensor technologies.’
Some of the companies in the portfolio include Rezatec (earth observation), Cognism (lead generation), Grakn Labs (knowledge graphs) and Jellagen (a novel form of collagen).
Suited to what are termed ‘active investors’, NPI allows its investors to stock-pick on a deal-by-deal basis, showcasing around 70 companies to their network each year. Following further screening, they facilitate the process whereby investors can join or lead syndicates.
Investors can also invest along -side the fund whilst accessing the DD carried out by NVL’s investment team. Another option is their evergreen fund, which provides investors with exposure to early-Stage investing without the need to stock-pick or commit management time.
Thakrar’s investment background has been in innovation investing, mostly in global public markets as a fund manager, managing global technology funds in innovation, life-sciences and technology for over 20 years for institutions such as Kleinwort Benson, New Star and ADIA, one of the world’s largest sovereign wealth funds.
In addition to NPI/NVL, Thakrar is a partner at Syncona – one the largest life science funds in Europe. This fund, originally backed by the Wellcome Trust, focuses on using disruptive biology to build companies in areas such as cell and gene therapy. Thakrar also sits on the board of the Alan Turing Institute, the UK’s leading data science and AI academic institute – which gives him insights in data science and artificial intelligence trends. He has a degree in Chemistry from King’s College, London and was an Innovation fellow at Cambridge University. He worked in the early years of the computing industry before moving into finance in 1994.