Interview with an Executive from Bloc Ventures

**Title: A Closer Look at Bloc Ventures: Leading the Deep Tech Investment in UK and Europe**

Welcome to Edison TV! In this executive interview, Bruce Beckloff, CEO of Bloc Ventures, discusses the fascinating world of deep tech investments and how Bloc Ventures is taking advantage of this lucrative sector. As a London-based venture capital firm, Bloc Ventures focuses on cloud, data, connectivity, and security for telecoms and computing applications. With a successful track record and a portfolio of 11 investee companies, Bloc Ventures aims to capitalize on the growing market by making two to four new investments annually from 2021 onwards. By leveraging their expertise and strategic partnerships, Bloc Ventures is well-positioned to tap into the vast potential of the deep tech industry in the UK and Europe.

**About Bloc Ventures:**
Bloc Ventures was founded in 2013 by Bruce Beckloff and David Leftly, former corporate venturing executives at Vodafone and ARM respectively. Inspired by the deep tech investments in the US, Beckloff and Leftly saw a unique opportunity to bring specialized deep tech investments to the UK and Europe. By bridging the gap between cutting-edge technologies developed in top universities and the required capital and expertise, Bloc Ventures has successfully invested in 11 companies and raised nearly £30 million in capital. With a team boasting over a hundred years of operational experience, Bloc Ventures aims to not only provide financial support but also mentorship to nurture startups into thriving SMEs.

**Why Focus on Deep Tech Investments:**
The UK and Europe are home to world-renowned universities producing groundbreaking technologies and talent pool. However, there has been a lack of capital and specialist support for deep tech startups to commercialize their innovations. Recognizing this gap, Bloc Ventures specializes in deep tech investments to capitalize on this untapped market potential. By conducting thorough due diligence and leveraging their operational expertise, Bloc Ventures seeks to not only invest in promising technologies but also guide startups through the crucial stages of ideation, productization, and commercialization. Moreover, deep tech investments offer a natural life cycle for startups, as larger corporations look to outsource R&D and incorporate innovative solutions into their product portfolios.

**The Evolution of UK and European VC Sector:**
The VC sector in the UK and Europe has experienced significant growth and transformation over the past decade. While comparisons to the more mature US market may not be entirely fair, the VC industry in Europe has made remarkable strides. Government initiatives, such as the EIS scheme and SEIS, have played a crucial role in nurturing the venture capital ecosystem in Europe. With unicorns being created and exited at an increasing rate, the future of UK and European VC sector looks promising. Bloc Ventures, in particular, believes that continuous improvement and a maturing technology market will contribute to the sector’s evolution, making deep tech investments even more attractive.

*Source: [Edison](*

Bloc Ventures is a London-based venture capital (VC) company investing in UK and European deep tech. Focused primarily on cloud, data, connectivity and security for telecoms and computing applications, Bloc delivered a 59% NAV/share gain in FY20. Management is targeting a 20%+ IRR over the long term, with a portfolio of 11 investee companies today, aiming for two to four new balance sheet investments a year from 2021. Following a likely funding round in the next 12 months, later-stage funding options may include an IPO in 2023.

In this interview, Bruce Beckloff, CEO of Bloc Ventures, explains why deep tech is such a specialist sector and how Bloc is addressing this attractive long-term opportunity. With European venture capital coming of age as a sector, Bruce also talks about how he sees the VC sector evolving. With exposure to AI, quantum encryption and fintech among others, Bruce discusses Bloc’s existing portfolio, the company’s investment returns and outlook. He concludes by talking about the growing trend for VCs turning from private to public capital and what this might mean for Bloc in terms of a potential IPO.

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