Outward VC Research
Investment Thesis
Outward VC is a London-based early-stage venture firm that says it helps founders "breakthrough" at the earliest stage. Its stated focus is early-stage founders building in complex, regulated markets: banking, insurance, real estate, legal and professional services, healthcare, cybersecurity and work/HR. Outward defines fintech broadly. In its Fund II launch essay it lists themes such as longer lifespans, intergenerational wealth transfer, healthcare and insurance inadequacies, new borrowing models, secure data flow through institutional APIs, pension value assessment, real estate due diligence, consumer credit referencing and AI in asset and wealth management. Recent investments lean toward AI-native software for regulated workflows (Steward for AML compliance, Orbital for real estate law, Adclear for financial-services marketing compliance, Monq for enterprise negotiations) and security (Infrawatch, LeoTrace).
Stage Focus
Outward makes its entry investment in pre-Series A rounds of up to GBP 5m, mainly pre-seed and seed. It supports portfolio companies with follow-on investments, decided case by case on funding needs, progress, round composition and terms.
Check Size
Initial tickets range from GBP 250,000 to GBP 2,500,000. Crunchbase describes the target as companies raising GBP 1-10m.
Lead Tendency
The firm says it is often the lead and helps coordinate other investors and structure the round, but is equally comfortable co-leading or following. Recent examples: lead on Infrawatch (May 2026, pre-seed), co-lead with Twin Path Ventures on LeoTrace's GBP 1.45m pre-seed, and co-investor in Firenze's seed.
Recent Activity
Fund II launched in September 2024 at GBP 51m, backed by the British Business Bank and a group of LPs, many of them founders and executives. The first fund (2019) deployed about GBP 20m, and the firm says portfolio companies went on to raise over GBP 570m of follow-on capital. Recent journal posts cover investments in Adclear (Nov 2025), Monq (Dec 2025), Steward (Mar 2026) and Infrawatch (May 2026). Fund II looks to be actively deploying.
Portfolio Highlights
The portfolio page lists about 33 named companies plus two stealth companies. Exits shown on the page: Anorak, Monese and Vauban (exited to Carta). Other notable names include Curve, Bud, Peppy, PrimaryBid, Cosine, Orbital, Supercede and Capsa AI. The page is a text grid with no company links, so domains are left null.
Team
- Kevin Chong: Co-Founder and General Partner
- Devin Kohli: Co-Founder and General Partner
- Andi Kazeroonian: Principal
- Sanchit Dhote: Principal
- Sebastien Mafuna: Investment Manager
- Joselyn Joanes: Investment Associate
- D'Arcy Martin: Head of Platform
- Sarka Sirucková: Platform Lead
Decision Process
Outward runs a collective, flat-structure process. Founders meet the team and the investment committee earlier than at most VCs, and the firm promises clear feedback and a transparent view of where a founder stands. Several team members interact with each company, and it asks for a board observer right after investing.
Founder Preferences
No social proof required, a bias for drive ("chips on their shoulders"), domain expertise combined with technical ability (notably AI/ML), and a willingness to back underdogs. A warm intro is welcome but not required; cold outreach goes through the website form. It will occasionally back pre-revenue companies, but prefers some revenue with good customer quality.
Geographic Focus
Primarily UK-based founders at the time of the entry investment, with the expectation that companies expand internationally. The firm is headquartered at 30 Gresham Street, London. Outward Capital LLP is an Appointed Representative of Frank Investments Limited (FCA regulated).
Post-Investment Support
Hiring, commercial partnerships, board construction, next-round strategy, marketing and a dedicated platform team (Head of Platform and Platform Lead). Founders are encouraged to speak with portfolio companies before choosing Outward.
Gaps
AUM is not stated beyond the GBP 51m Fund II figure from the firm's own announcement. Team LinkedIn URLs and emails were not published on the team page. Portfolio stage and date per company are only known for a handful of recent deals.