London-based Newable Private Investing (NPI) has announced the launch of its first evergreen fund. With an initial raise of £10 million in the first year, the Newable Scaleup Fund 3 addresses the investment gap between seed stage and Series A, targeting high-growth early-stage companies that have moved from concept to a working business model but don’t yet have the numbers to attract VC or private equity money.

NPI aims to invest in seven to ten such businesses operating in knowledge-intensive industries through the EIS fund, with particular emphasis on the specialist areas of electronics, automation, medtech, and spacetech.