Mosaic Ventures Research
Investment Thesis
Mosaic Ventures is a thesis-driven, boutique venture capital partnership based in London, founded in 2013 by Toby Coppel and Simon Levene, who first met as graduate-school roommates in the US in 1995 and built their careers together in Silicon Valley at Excite@Home and Yahoo! before returning to Europe. Mosaic invests $1-10M at Seed and Series A, and since 2026 has narrowed its focus exclusively to AI-native applications: the firm has been investing in AI since 2015, and now describes itself as "AI-first," believing artificial intelligence is the most consequential technology platform shift of its founders' lifetimes. Mosaic backs outlier founders and management teams building at the AI application layer — where AI is not a bolt-on feature but central to why the product exists — favoring companies with superhuman capabilities (generating or interpreting information at scale, speed, or cost humans cannot match), high-value automation of expensive or scarce labor, greenfield product categories enabled by AI rather than incremental software improvements, and businesses where AI expands total addressable market. The firm is explicitly cautious about thin interfaces on commoditized models, capital-intensive foundation-model plays without clear defensibility, and applications likely to be absorbed by general-purpose platforms.
Stage Focus
Mosaic invests primarily at Seed and Series A, positioning itself as an early institutional partner willing to lead or co-lead rounds. The firm makes up to 10 new investments a year, by design a small, highly collaborative, partner-only team with no analyst/associate layer — sourcing, pipeline management, and deck analysis are handled directly by partners working alongside AI-native internal tooling.
Check Size
Typical investment range is $1M-$10M per the firm's own public description of its strategy on its homepage and press page.
Lead Tendency
Mosaic leads or co-leads a small number of investments per year by design (per its "Our Story" page: "leading or co-leading a small number of investments per year... we commit to support founders actively, all the way to IPO or exit"). Recent deals bear this out: Mosaic co-led Integral's €18M Series A alongside Reid Hoffman in September 2026, and Chandar Lal describes co-leading Integral's round "with Reid Hoffman, alongside existing investors General Catalyst, Cherry Ventures, and Puzzle Ventures."
Recent Activity
Mosaic is actively deploying. In September 2026, Reid Hoffman (LinkedIn/PayPal/Inflection AI/Manas AI co-founder, and a two-decade relationship of the founding partners) formally joined as Advisory Partner, and the firm co-led Integral's €18M Series A (AI-native accounting, tax, and payroll for SMEs) the same month. In June 2026, Mosaic invested in Cortea, an AI-native audit platform for professional audit firms (Cortea separately announced a €12M raise). Portfolio company Parloa (generative AI for contact centers, an existing Mosaic investment since 2023) raised a $350M Series D at a $3B valuation in January 2026, led by General Catalyst — a major markup for the fund.
Portfolio Highlights
Mosaic's public portfolio page lists more than 65 companies across six categories the firm itself defines: AI, B2B SaaS, Location & Mobility, Human Empowerment, Fintech, and Marketplaces & Commerce, spanning both active and historically exited positions. Standout active names include Parloa ($3B valuation, generative AI for contact centers), Inflection AI, Manas AI (AI-native drug discovery, co-founded by Reid Hoffman), Veriff (identity verification), Auterion (drone software for enterprises), Vortexa (energy/commodity data intelligence), Coram AI, Docker, Keelvar, Qatalog, and Tray.ai. The firm's press materials note that across 30+ years and 70+ companies in 12 countries, its partners' investments have collectively created roughly $400 billion in value, citing legacy category leaders including Alibaba, Etsy, Squarespace, Wise, Pinterest, and Criteo among its historical/exited portfolio.
Team
- Toby Coppel — Co-founder and Partner. Previously Chief Strategy Officer at Yahoo!.
- Simon Levene — Co-founder and Partner. Previously a partner at Accel, and worked at Yahoo! and Excite@Home.
- Chandar Lal — Partner (joined 2020, promoted to Partner end of 2024). Previously a strategy consultant and worked at Sequoia in Silicon Valley.
- Reid Hoffman — Advisory Partner (joined September 2026). LinkedIn, PayPal, OpenAI, Inflection AI, Manas AI.
- Benedict Evans — Venture Partner. Previously an equities analyst and worked at a16z in Silicon Valley; writes Mosaic's widely read "AI eats the world" macro research.
- Bart Dessaint — Venture Partner. Previously a healthcare entrepreneur and a deal-team partner at a16z in SF.
- David Oglesby — CFO, with 20 years' experience in investment management.
- Michael Odai — COO & General Counsel, founding team member; previously helped found Virgin Green Fund and had a career in corporate law.
- Mikhail Grechishkin — Head of Data and Product, previously at Klarna and early-stage startups.
- Freya Kempell — Executive Assistant, previously at Clearbell and BGF.
- Ruth Tiangco — Executive Assistant, previously at Aon Hewitt.
Decision Process
Mosaic explicitly describes itself as "a partner-only firm" with no siloes and no traditional junior investment team; sourcing, pipeline management, deck analysis, and meeting prep are handled by the partners directly, augmented by purpose-built internal data infrastructure and AI-native workflows since roughly 2024.
Founder Preferences
Mosaic looks for founders with a category-defining vision, technical depth combined with product judgment, customer empathy, and a path to long-term defensibility. The firm favors products customers "truly love" with early signs of evangelism, vast or newly-created addressable markets, durable moats (technology differentiation or network effects), scalable bottom-up GTM, and capital-efficient growth.
Geographic Focus
Mosaic partners with Europe's leading AI entrepreneurs and helps them scale globally, especially across the Atlantic to the US. The firm argues Europe is structurally undercapitalized relative to its research talent and technical leadership base, creating an opportunity for European-founded companies to compete globally. Office: 30 St. George Street, London W1S 2FH.