MARKET NOTES / 001UNITED KINGDOM / LONDON / ARTIFICIAL INTELLIGENCE
LESS GUESSWORK. A BETTER RESEARCH LIST.

Artificial Intelligence.
London.

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Who backs this market, where they enter, and how recently they have added a new company. A directory built around the questions founders actually ask.

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Companies are based in London · investors can be based anywhere
Dataset through 22 May 2026 · calculated 14 Sep 2026
01 / THE SHORTLIST LAB

Make the list work for your company.

100 backers based in London are shown by default. Compare up to three.

100 of 552 selected backers · London only

Shows investors whose recorded city is London. Unknown cities are excluded. Market charts cover all investor locations.

Theme filtering selects backers of companies carrying that theme tag. Entry-stage filtering selects backers with an entry at that stage; the two matches may be different companies. Row metrics describe their entire dated Artificial Intelligence history in London.

Selected investors ranked by distinct companies backed, with first-entry financing and recent activity.
CompareInvestor / recorded locationCompanies
here
New in
24 months
Median total
entry round
Companies
backed again
Latest
investment
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THE INVESTOR, IN CONTEXT
LINKEDIN ACCESS

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02 / THE MARKET READ

Activity is a better starting point
than a long list of names.

Latest 24 months: after 22 May 2024 through 22 May 2026.

RECENT PARTICIPATION
507

Backers in a recent round

458 added at least one new company in this market. The remainder participated only in companies they had already backed here.

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MARKET PACE
149

Distinct equity rounds

Across 117 companies, versus 116 rounds in the preceding 24 months. Each company round is counted once.

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EARLY FINANCING
59.1%

Rounds at Angel, Pre-Seed or Seed

88 of 149 recent rounds. Compare your stage with its own financing range before sizing the ask.

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NEW RELATIONSHIPS
81%

Participations were first entries

534 first investor–company relationships out of 656 participations. The other 122 were later rounds together.

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Build a syndicate beyond the city.

Of 507 recently active backers, 78 have a recorded London location and 298 are based elsewhere. Location is missing for 131. Search by market experience first, then investigate the people and their remit.

Match the whole round to your plan.

Recent Seed rounds have a median size of $3.1M, across 77 disclosed amounts. That is total company financing. An individual investor’s cheque or available capital is not disclosed here.

03 / EMERGING THEMES

Which themes are gaining share?

Follow financing activity across the company classifications represented in this market.

Latest four complete quarters: 01 Apr 2025–31 Mar 2026 · 74 market rounds, versus 72 in the preceding four quarters.

GAINING SHARE

Enterprise Software

+4.8 pp

58 of 74 recent rounds (78.4%), versus 53 of 72 (73.6%).

LATEST DETECTED SPIKE

Saas

72.2%

13 of 18 rounds in Q2 2021, compared with 41.2% over the prior four quarters.

GAINING SHARE

Deep Tech

+9.6 pp

39 of 74 recent rounds (52.7%), versus 31 of 72 (43.1%).

BROADLY STEADY

Ai As A Service

+1.7 pp

28 of 74 recent rounds (37.8%), versus 26 of 72 (36.1%).

SPIKE DETECTION

Look beyond the headline total.

Share of market roundsPrior four-quarter shareDetected spike

Scroll sideways to explore all quarters.

Ai Infrastructure: quarterly share of recorded equity roundsSolid line: share of market rounds. Dashed line: share over the previous four complete quarters. Rings mark rule-based spikes. Shading marks a partial quarter, excluded from detection. 0%12.5%25%37.5%50% Partial 2020Q1 2020: 2 / 12 rounds, 16.67%Q2 2020: 2 / 10 rounds, 20%Q3 2020: 5 / 14 rounds, 35.71%Q4 2020: 5 / 15 rounds, 33.33%2021Q1 2021: 1 / 12 rounds, 8.33%Q2 2021: 5 / 18 rounds, 27.78%Q3 2021: 4 / 21 rounds, 19.05%Q4 2021: 2 / 13 rounds, 15.38%2022Q1 2022: 4 / 17 rounds, 23.53%Q2 2022: 2 / 15 rounds, 13.33%Q3 2022: 5 / 13 rounds, 38.46%Q4 2022: 1 / 11 rounds, 9.09%2023Q1 2023: 2 / 8 rounds, 25%Q2 2023: 4 / 14 rounds, 28.57%Q3 2023: 3 / 17 rounds, 17.65%Q4 2023: 3 / 15 rounds, 20%2024Q1 2024: 6 / 24 rounds, 25%Q2 2024: 2 / 11 rounds, 18.18%Q3 2024: 4 / 18 rounds, 22.22%Q4 2024: 3 / 16 rounds, 18.75%2025Q1 2025: 7 / 27 rounds, 25.93%Q2 2025: 10 / 24 rounds, 41.67%Q3 2025: 8 / 24 rounds, 33.33%Q4 2025: 1 / 12 rounds, 8.33%2026Q1 2026: 6 / 14 rounds, 42.86%Q2 2026: 4 / 10 rounds, 40%

Q2 2025 · 10 of 24 market rounds · 10 companies · 41.7% share. A detected spike, 1.88× the prior four-quarter share.

Select a dot to inspect the exact count and baseline. The partial quarter through 22 May 2026 is shown but cannot trigger a spike.

The theme shift, year by year.

Share of all recorded Artificial Intelligence rounds in London. Each cell also gives its theme-round count.

Theme shares and round counts by calendar year. 2026 is partial through 22 May 2026.
Investment theme2020202120222023202420252026*
72.6%37 / 5181.3%52 / 6471.4%40 / 5675.9%41 / 5476.8%53 / 6977.0%67 / 8762.5%15 / 24
41.2%21 / 5160.9%39 / 6455.4%31 / 5653.7%29 / 5449.3%34 / 6954.0%47 / 8754.2%13 / 24
60.8%31 / 5143.8%28 / 6442.9%24 / 5646.3%25 / 5443.5%30 / 6950.6%44 / 8762.5%15 / 24
23.5%12 / 5126.6%17 / 6430.4%17 / 5631.5%17 / 5431.9%22 / 6936.8%32 / 8733.3%8 / 24
27.5%14 / 5118.8%12 / 6421.4%12 / 5622.2%12 / 5421.7%15 / 6929.9%26 / 8741.7%10 / 24
21.6%11 / 5115.6%10 / 6414.3%8 / 5613.0%7 / 5418.8%13 / 6910.3%9 / 874.2%1 / 24
11.8%6 / 516.3%4 / 6410.7%6 / 5616.7%9 / 5414.5%10 / 6921.8%19 / 878.3%2 / 24
23.5%12 / 519.4%6 / 6416.1%9 / 5616.7%9 / 544.4%3 / 698.1%7 / 874.2%1 / 24

*2026 is partial. Company themes use the tags available in this dataset, applied to historical rounds; they do not date when a business adopted a technology. Themes overlap, so shares do not add to 100%. Each company round is counted once within a theme. These charts cover investors from all locations; the shortlist keeps its own location filter.

How a spike is detected

A complete quarter is flagged when its theme share is at least 1.75× the share across the preceding four quarters and at least 5 percentage points higher. It must contain at least 3 theme rounds across 3 companies, at least 10 market rounds, and at least 3 theme rounds in the baseline. All four baseline quarters must have market observations. A zero baseline, missing observations or partial quarter cannot produce a flag.

This is a transparent screening rule, not a statistical significance test or a forecast. A higher share can accompany fewer rounds when the wider market contracts; the counts beside the chart make that distinction visible.

04 / THE DEPTH MAP

One appearance, or a pattern?

994 of 1,185 backers with dated histories appear in just one company. Select a cell to explore the directory.

Backers by type and number of distinct Artificial Intelligence companies backed in London, all dated history.
Portfolio breadth here1 company2 companies3–56–1011+
Firms & institutions
Individual angels

Circle area increases with backer count. The shortlist includes backers with 2 or more companies in this market, plus other backers active in the latest 24 months. In the 1-company cell, only recently active backers are available to explore. The shortlist’s investor-location filter also applies; select all locations to broaden the results. 3 backers have only undated entries.

05 / ROUND DESIGN

Different stages. Different capital.

Recent equity rounds · 24-month window.
Amounts are in USD.

StageDistinct roundsMedian / middle half
Angel
1
UndisclosedNo disclosed amounts0 disclosed · small sample
Seed
87
$3.1M$1.8M–$6.0M77 disclosed
Series A
31
$13M$8.0M–$25M29 disclosed
Series B
13
$37M$30M–$135M13 disclosed
Series C
7
$55M$38M–$71M6 disclosed
Series D
6
$176M$86M–$180M5 disclosed
Series E+
3
$175M$170M–$188M3 disclosed · small sample
Post-IPO
1
$50M$50M–$50M1 disclosed · small sample
06 / FOLLOW THE EVIDENCE

The most recent recorded rounds.

Distinct company rounds.
Named backers are shown lead-first.

Series A

Developer of software for automating industrial inspection and reporting workflows

$20M total equity round
6 named backers

Index Ventures · Entrepreneur First · Mehdi Ghissassi · Naren Shaam · Susa Ventures · +1 more

Seed

Platform integrating LLMs into existing tech stacks

$4.0M total equity round
3 named backers

PXN Ventures · NYDIG · Salica Investments

Series B

Developer of AI chips for running large AI models

$220M total equity round
9 named backers

Accel · 01 Advisors · 8VC · Buckley Ventures · Conviction · +4 more

Series B

Digital platform focused on revolutionizing drug discovery using AI

$2.1B total equity round
7 named backers

Thrive Capital · Alphabet · CapitalG · Google Ventures · MGX · +2 more

Seed

Developer of software for prototyping interfaces directly within production code

$6.0M total equity round
3 named backers

Connect Ventures · Betaworks · N49P

Series A

Provider of AI-driven research platform complemented by human expert consultations

$23M total equity round
4 named backers

Andreessen Horowitz · Evantic · General Catalyst · XTX Markets

07 / READING THE ATLAS

What these patterns can tell you.

The market boundary

Recorded equity rounds for companies tagged Artificial Intelligence and located in London. Investor headquarters may be elsewhere. Company sector and location reflect the available company records, not necessarily the location or sector at the investment date.

The time boundary

Data coverage ends 22 May 2026. The latest market round is 19 May 2026. There are 10 undated participations, excluded from timing metrics. Activity after the cutoff is unknown.

The relationship boundary

“New” is the first dated relationship between a backer and a company in this market. “Backed again” requires a later dated round together. A first observed entry may follow an earlier unrecorded investment.

The financing boundary

Amounts describe entire equity rounds, not personal cheques, fund capacity or returns. Medians exclude missing and non-positive amounts; the middle half spans the 25th–75th percentiles. A recorded investment does not establish current availability.

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Calculated 14 Sep 2026 · 552 investor histories to explore