About M&G
M&G is a venture capital firm founded in 1931. It is primarily based out of London, United Kingdom. As of Jun 2025, M&G is an active investor, having invested in 60 companies, with 11 new investments in the last 12 months. It primarily invests in Conventional Debt round in United Kingdom based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Life Sciences. Most recently it led the $39M Series G round of Udaan along with Lightspeed Venture Partners.
Overall, M&G portfolio has seen 5 unicorns, 7 IPOs and 3 acquisitions including key companies like Lightsource BP, Grover and Aditya Birla Capital. A lot of funds co-invest with M&G, with names like Future Planet Capital sharing a substantial percentage of its portfolio.
M&G has team of 107 people including 19 partners.
Key Metrics
Team Members
, &
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series C, Conventional Debt &
Portfolio IPOs
Portfolio Acquisitions
Deals in last 12 months
M&G's List of Top Investments
M&G has a portfolio of 60 companies, including 5 unicorns. Their most notable investments are in Udaan and Udaan.Their portfolio spans across United Kingdom, India, United StatesÌý²¹²Ô»å 14 more locations. They have invested in High Tech, Enterprise Applications, Life SciencesÌý²¹²Ô»å 26 other sectors, across stages such as Series C, Conventional Debt Ìý²¹²Ô»å 8 more. Here is the list of top investments by M&G:
Key facts about Lightsource BP
- Founded Year: 2010
- Location: Holborn (United Kingdom)
- Annual Revenue: £320M as on Dec 31, 2023
- Stage: Acquired
- Total Funding till date: $418M
- Employee Count: 1,101 as on Dec 31, 2023
- Investors: Caisse de depot et placement du Quebec, ING and 19 Others
- Latest Funding Round: Conventional Debt, Feb 05, 2024
- Highlight: Acquired
2. Moneyfarm
MoneyFarm provides an online platform for investment planning & advisory services. It helps users in portfolio management based on their profiles and goals. It offers advisory services for investment in stocks & shares, pension management, and wealth management. It also features tools for tracking investments.
Key facts about Moneyfarm
- Founded Year: 2011
- Location: London (United Kingdom)
- Annual Revenue: £9.76M as on Dec 31, 2021
- Valuation: $187M as on Aug 06, 2019
- Stage: Series D
- Total Funding till date: $186M
- Employee Count: 437 as on Dec 31, 2023
- Investors: M&G, Endeavor and 11 Others
- Latest Funding Round: Series D, Jan 26, 2022, $59.5M
- Highlight: Editors' Pick
3. Grover
Online rental platform for multi-category consumer electronic products. The platform allows customers to rent computers, mobile phones, tablets, wearables, cameras, home entertainment, drones, and more. It also allows users to buy rental items by paying the difference amount. The application is available on Android and iOS platforms. It also offers rental services for organizations.
Key facts about Grover
- Founded Year: 2015
- Location: Miami (United States)
- Annual Revenue: €48M as on Dec 31, 2021
- Valuation: $1B as on Apr 07, 2022
- Stage: Series C
- Total Funding till date: $323M
- Employee Count: 131 as on Dec 31, 2020
- Investors: Kreos Capital, Commerzbank and 49 Others
- Latest Funding Round: Series C, Jul 18, 2024, $54.6M
- Highlight: Editors' Pick
4. AMBOSS
Mobile & cloud-based educational resources for medical exams. It offers question banks, review books, textbooks, lecture notes, personal notes, multimedia, and more for the students. The platform also provides learning cards for physicians and is offered on a subscription model. Its mobile app is available for Android and iOS devices.
Key facts about AMBOSS
- Founded Year: 2012
- Location: Berlin (Germany)
- Stage: Series C
- Total Funding till date: $292M
- Employee Count: 20 as on Dec 31, 2022
- Investors: Wellington Partners Venture Capital, Quadrille Capital and 9 Others
- Latest Funding Round: Series C, Mar 25, 2025
- Highlight: Editors' Pick
5. Livpure
Manufacturer and retailer of water purifiers, mattresses, and home appliances. It offers a variety of water purification systems, including RO, UV, and UF technologies, along with rental options. The company also produces and sells a range of mattresses and bedding products, focusing on comfort and orthopedic support. Additionally, it provides a selection of home appliances, such as air purifiers and kitchen appliances. The business model includes both direct sales and online retail channels.
Key facts about Livpure
- Founded Year: 2008
- Location: Gurugram (India)
- Annual Revenue: ₹447Cr as on Mar 31, 2024
- Valuation: $59.7M as on Mar 31, 2023
- Stage: Series C
- Total Funding till date: $92.7M
- Employee Count: 1,085 as on Jan 31, 2025
- Investors: , Multiples Alternate Asset Management and 18 Others
- Latest Funding Round: Series C, Aug 21, 2024, $28M
- Highlight: Editors' Pick
M&G's Year-on-Year Investment Trends
M&G has invested in 64 companies over the last 12 years, with an average of 5 new investments annually in the last 10 years. In 2024, it made 15 investments, while as of Jun 2025, it has made 4 investments in this year. Its most recent first time investment was in Mainspring Energy and most recent follow-on round was in Udaan.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 2 | 2 | 4 |
2024 | 11 | 4 | 15 |
2023 | 18 | 3 | 21 |
2022 | 7 | 4 | 11 |
2021 | 6 | 1 | 7 |
2020 | 0 | 0 | 0 |
2019 | 4 | 1 | 5 |
2018 | 4 | 0 | 4 |
2017 | 1 | 0 | 1 |
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M&G's Investments by Stage
M&G has made 14 investments in Series C stage with an average round size of $99M, 12 investments in Conventional Debt stage with an average round size of $308M and 9 investments in Series B stage with an average round size of $90.2M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Series C | 14 |
Conventional Debt | 12 |
Series B | 9 |
Series D | 9 |
Post IPO | 6 |
Others | 8 |
M&G's Investments by Sector
M&G has a diverse portfolio, with companies operating in the FinTech, High Tech, Enterprise Applications, Sustainability Tech and Consumer. Notably, it has invested in 46 Tech companies, 42 Enterprise (B2B) companies, 17 Software companies and at least 16 companies focusing on Consumer (B2C).
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
FinTech | 15 |
High Tech | 12 |
Enterprise Applications | 11 |
Sustainability Tech | 11 |
Consumer | 10 |
Others | 97 |
M&G's Investments by Geography
M&G has made most investments in United Kingdom (23), followed by India where it has made 5 investments.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
United Kingdom | 23 |
India | 5 |
United States | 5 |
Israel | 4 |
Australia | 3 |
Others | 19 |
M&G's recent investments
Here are the most recent investments by M&G:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 02, 2025 | India | Series G | $39M | ||
Apr 14, 2025 | United States | Series F | $258M | [+10] | |
Mar 25, 2025 | Germany | Series C | €240²Ñ | [+1] | |
Feb 17, 2025 | India | Series G | $75M | ||
Dec 20, 2024 | Ireland | Series C | $42M | [+2] |
Get the detailed list of all investments by M&G. Download now!Unicorns in M&G's Portfolio
Here is a list of unicorns in M&G's portfolio:
ÃØÃÜÑо¿Ëù Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
53 | Provider of banking software suite for banks and financial institutions | 2012 | Johannesburg | Series D | xwwtapa | ||
72 | Online rental platform for multi-category consumer electronic products | 2015 | Miami | Series C | tonrgec | ||
61 | Provider of carbon removal solutions for businesses and individuals | 2009 | Zurich | Series E | ybscuxo | ||
61 | App-based rental platform for electric kick-scooters | 2018 | Berlin | Series D | qceppef | ||
63 | Online marketplace offering multi-category products | 2016 | Bengaluru | Series G | {xdxjqb |
IPOs and Publicly Listed companies in M&G's Portfolio
Here are M&G's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 30, 2021 | Mar 17, 2021 | Series B | $168M | |
Feb 10, 2021 | Sep 16, 2024 | Post IPO | $45.3M | |
Jul 06, 2020 | Dec 23, 2021 | Post IPO | $13.3M | |
May 05, 2020 | - | - | - | |
Jan 09, 2017 | Jun 26, 2023 | Post IPO | $366M |
Acquired companies in M&G's Portfolio
Here are M&G's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 30, 2023 | Nov 04, 2015 | Conventional Debt | $438M | |
Feb 01, 2019 | - | - | - | |
Nov 06, 2011 | Sep 22, 2014 | Conventional Debt | $399M |
Team profile of M&G
M&G has a team of 107 membersÌýincluding 19 Partners and 55 PrincipalsÌýlocated in India, United Kingdom and . M&G's team sits on the board of 1 company.Here is a list of top team members in M&G:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Redwood City | - | ||
Partner | London | - | ||
Partner | Baar | - | ||
Partner | London | - | ||
Partner | London | - | ||
Partner | London | - | ||
Partner | Milan | - | ||
Partner | London | - | ||
Partner | United Kingdom | - | ||
Partner | - | - | - | |
Partner | London | - |
Get the full list of M&G's team & partners for free. Download now!Co-investors of M&G
Over the past 12 years, 624 investors have co-invested in M&G's portfolio companies.
- Invested before M&G:Ìý, EIC Fund and 374 others have invested in rounds before M&G. There are 7 companies where European Union has invested before M&G and 4 companies where EIC Fund has invested before M&G.
- Top Co-investors of M&G:Ìý140 investors entered a company along with M&G. These include investors like Future Planet Capital (2 companies).
- Invested after M&G:ÌýA total of 108 investors have invested in M&G's portfolio after their investments. Top Investors include IFC (2 companies), DFC (2 companies) and BNP Paribas (2 companies).
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