Julie Meyer Launching £20 Million Tech Startup Fund

Looks like Michael Birch and Brent Hobertman’s PROfounders Capital has some company – there’s another small venture fund on the block for tech startups.

Ariadne Capital CEO Julie Meyer is launching the Ariadne Capital Entrepreneurs (ACE) fund, with investment from 10 execs and herself, to invest between £250,000 and £1 million in new companies, Independent.co.uk reports.

Meyer tells the paper Ariadne’s own portfolio companies, who include SpinVox, Slicethepie and Zopa, could be beneficiaries. Though bank credit lines have been tightened over the last year, Meyer said startups nowadays need less money that a decade ago. The institutional tech VC houses, too, all recently raised new funds.