Former UK Deputy Prime Minister and Meta executive, Nick Clegg, has joined Hiro Capital as a general partner. Clegg will focus on spatial AI innovation across Europe with Hiro's new fund, Hiro III, targeting over €500 million in investment. Hiro Capital, founded in 2018, invests in video games, esports, and AI. The firm's new fund will focus on spatial AI, robotics, immersive computing and defence.
Alongside Clegg, Yann LeCun, who is stepping down as Meta's chief AI scientist, will join Hiro Capital's advisory board. LeCun believes Hiro is well-positioned to capitalise on the new wave of opportunity in Europe, particularly in systems that understand the physical world and can reason and plan complex actions. Hiro Capital's investment strategy centres on backing experienced entrepreneurial teams building innovative technologies with the potential to scale. The firm typically invests in post-seed Series A and B stages.
Clegg dismissed the notion that Europe lags behind the US or China in tech innovation, highlighting the continent's vibrant tech scene and research institutions. Hiro Capital aims to invest between €5 million and €50 million in scaling innovative technologies, addressing the funding gap for European tech start-ups. The firm's previous investments have spanned gaming and metaverse companies in the UK, Europe, and North America.
