Sir Nick Clegg Partners with Hiro Capital to Launch New Venture Capital Fund, Hiro III

Former Deputy Prime Minister of the UK and President of Meta, Sir Nick Clegg, has joined Hiro Capital as a general partner to launch Hiro III, a UK and Europe-focused multi-stage venture capital fund. The new fund will concentrate on investing in spatial AI, robotics, longevity, gaming, and space and defense technologies. According to a company statement, Hiro III is a large, multi-stage fund capable of deploying investments ranging from $5.8 million to $58.7 million. The fund aims to address the scale-up capital gap in the UK and Europe, providing growth-stage funding to promising startups in these regions. Sir Ian Livingstone CBE, co-founder of Hiro Capital and Games Workshop, welcomed Clegg to the team on LinkedIn, stating: "I am thrilled to share the exciting news that Nick Clegg, former Deputy Prime Minister and President of Global Affairs at Meta, has joined us at Hiro Capital as a General Partner to launch our third scale-up VC fund." Clegg expressed his enthusiasm for joining Hiro Capital, citing his shared vision with the founders regarding the growth of immersive computing and spatial AI. He noted that the world is on the cusp of a significant platform shift, driven by the convergence of spatial technologies and next-generation AI models. Hiro Capital, with its exclusive focus on these themes within Europe, is well-positioned to capitalize on this trend. Clegg believes that the UK and Europe are poised for significant growth in the tech sector, with an abundance of talented researchers, universities, engineers, and entrepreneurs. However, he acknowledges that the region lacks sufficient capital to scale its startups. He is confident that Hiro Capital, with its unique geographic and technological reach, can help bridge this gap and accelerate the growth of the European tech ecosystem. The advisory board of Hiro Capital has also been expanded, with the addition of several high-profile appointments. These include Professor Yann LeCun, former Chief Scientist of Meta and Turing Award winner for deep learning AI; Malcolm Turnbull, former Prime Minister of Australia and a leading tech investor; and Major Tim Peake, a renowned scientist, test pilot, and the first British ESA astronaut.