Former UK Deputy PM Sir Nick Clegg Joins Hiro Capital as General Partner for New Venture Capital Fund

Sir Nick Clegg, the former President of Meta and UK Deputy Prime Minister, has been appointed as a general partner at Hiro Capital, coinciding with the launch of its new scale-up venture capital fund, Hiro III. This UK and Europe-focused fund concentrates on multi-stage investments in spatial AI, robotics, longevity, games, space, and defense. According to the company, Hiro III is a large, multi-stage fund capable of deploying investments ranging from $5.8 million to $58.7 million, aiming to address the scale-up capital gap in the UK and Europe. Hiro Capital's co-founder, Sir Ian Livingstone CBE, expressed his delight at Clegg's appointment on LinkedIn, highlighting the significance of this new partnership. Clegg stated that his decision to join Hiro Capital was driven by his shared belief in the potential of immersive computing and spatial AI. He emphasized that the current convergence of spatial technologies and next-generation AI models marks the beginning of a significant platform shift, where humans will transition from merely interacting with the internet to living within it. Clegg also pointed out that Europe's tech ecosystem is poised for growth, with exceptional researchers, universities, engineers, and entrepreneurs, but faces a challenge in terms of scaling due to a lack of capital. He believes that Hiro Capital, with its unique technological and geographic reach, is well-positioned to support this growth. The advisory board of Hiro Capital has also been expanded with notable additions, including Professor Yann LeCun, a deep learning AI pioneer and former Meta chief scientist; Malcolm Turnbull, the former Prime Minister of Australia and a prominent tech investor; and Major Tim Peake, a renowned scientist, test pilot, and the first British ESA astronaut.