Ariadne targets entrepreneurs

Investment and advisory Ariadne Capital has launched its first venture capital fund with the backing of 10 entrepreneurs.

The Ariadne Capital Entrepreneurs (ACE) Fund is aiming to raise £20m for investment in internet and mobile internet companies at the seed stage. The fund is planning to invest between £250,000 and £1m into each business.

Investors include EasyNet founder David Rowe, Marc Worth, the founder of WGSN, and Julie Meyer, founder of Ariadne who will act as the fund’s managing partner.