"[Europe has a] very, very profound dilemma, Clegg told attendees at a Financial Times conference. We're not only completely dependent on US tech [but] when we have good people with good ideas, we export them to the US. Clegg said the idea of the new Hiro fund was to focus on sectors that Europe had deep, deep sort of academic and research laboratory experience."
"The firm, which invests in areas including video games, esports and artificial intelligence, is looking to raise a new fund worth more than 500m (375m), according to the Financial Times. The fund will invest in companies in the UK working in robotics, longevity, gaming, space, defence and AI, the FT report. Hiro was co-founded by Ian Livingstone, the co-founder of Games Workshop and the Lara Croft-maker Eidos."
Nick Clegg is joining London-based Hiro Capital as a general partner after leaving his role as Meta's head of global affairs. Hiro Capital, founded in 2018, faced criticism for abandoning the People's Vote pro-remain campaign. The firm invests in video games, esports and artificial intelligence and is seeking a new fund of more than €500m (£375m). The fund will target UK companies in robotics, longevity, gaming, space, defence and AI. Hiro co-founders include Ian Livingstone and Luke Alvarez. Yann LeCun will join as an adviser to assess AI investments. Hiro aims to announce its first investment from the fund in the first half of next year.
Read at www.theguardian.com
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