Former Autonomy chief executive Mike Lynch is reportedly set to launch a new venture fund, looking to invest in hot new start-ups.
According to Bloomberg, which cites unnamed sources close to Lynch, the new fund will be based in London but invest in firms across the globe. Lynch has reportedly lined up a handful of his former Autonomy colleagues to advise on the investments.
Lynch made hundreds of millions following HP's £6.6bn acquisition of Autonomy in 2011 and has a long history in supporting start ups. Lynch is believed to have owned around eight per cent of Autonomy stock at the time of the purchase.
He has been an enthusiastic supporter of the Cambridge tech cluster, which was home to Autonomy prior to its acquisition. He also played a huge role in establishing video search firm Blinx, which was spun out of Autonomy.
Since leaving HP, Lynch has also invested in Cambridge-based Featurespace, which makes analytics software for marketing and risk management.
Lynch left HP under a cloud earlier this year, seemingly a victim of a culture clash between the entrepreneurial Autonomy and the bureaucratic HP. Many of Lynch's allies have also exited the firm since it was acquired.
Lynch hadn't responded to V3's request for comment at the time of publishing on the rumours.
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