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Start-up backer eyes public listing after hiring Arm executive
Bloc Ventures, which raised £30m earlier this year, invests in “deep tech” start-ups, businesses working advanced technologies such as quantum computing and advanced semiconductors.
Bloc has hired Michael Dimelow, a former corporate executive at Arm, as its chief commercial officer, who will advise its portfolio companies.
Michael Dimelow, Bloc’s chief commercial, said: “Investing in deep tech businesses is hard to get right, it helps if you understand the journey that the founders are about to go on. Bloc understands that journey and brings a wealth of product, technology and business building expertise, combined with a permanent capital structure. A patient approach to venture investing is unique within the UK and Europe and enables Bloc to take a long-term view with the founders we back. Funding the next wave of technology innovation and helping to shape Bloc Ventures long term growth was an opportunity too good to be missed.”
It is understood Bloc is “gearing up” for a stock market listing that could present a rival to London listed Draper Esprit.
Bruce Beckloff, Bloc’s chief executive, said: “An initial public offering is one of several options. If you look at Draper Esprit, the market is wide open for a venture model. The most obvious [exit] would be an IPO.”
See full article here: https://www.telegraph.co.uk/technology/2020/12/07/michael-spencer-backed-bloc-ventures-eyes-float-bolsters-team/