Latitude
Investor profile | Builders Republic
Part of Phoenix Court (Capital Innovation)
About
Latitude is the growth fund of Phoenix Court, the London-based home of LocalGlobe, designed to take over from the seed fund starting from Series B. Its rule is unusual for a fund of this size: it does not lead rounds, accepts the price set by the lead, and writes initial checks of $5 to $10 million, including in share buybacks, nearly a quarter of its investments by the end of 2020. Four funds since 2018: $180 million for the first, $220 million for the second in 2021, a third launched in 2022 with a target of $321 million, a fourth in fundraising since late 2024. 81 companies in the portfolio, including six out of ten already funded by LocalGlobe: Granola, Gamma, Cleo, Motorway, Heidi Health. Exits: Melio (Xero), Tessian (Proofpoint), Graphcore (SoftBank). In France, Latitude follows LocalGlobe's companies, Mistral AI in Series B in 2024 or Taster in Series B in 2021, but also invests alone: Sorare in 2021, Finary in Series B in 2025, Apollo Generators in 2025. For a founder preparing a Series B with a lead already found, it is a co-investor capable of completing the round without renegotiating the terms; it will not replace the lead.
Key facts
- Type
- Venture Capital
- Stages
- Series B,Growth
- Headquarters
- UK
- Offices
- London
- Geographic focus
- UK,Europe,France,Israel,USA
- Founded
- 2018
Track record
- Total investments: 81
Notable investments
Mistral AI, Finary, Sorare, Taster, Granola (GB), Gamma (US), Cleo (GB), Motorway (GB), Heidi Health (AU)
Funds by stage
Other funds investing at the same stages, list by list.