HIRO’s new growth fund leans into AI, space and longevity — with Sir Nick Clegg joining as a general partner

HIRO III arrives: a growth fund with political and AI heft

HIRO Capital has announced the launch of HIRO III and named Sir Nick Clegg as a general partner, a move that instantly raises the fund’s profile with limited partners and founders across Europe. The fund is pitched at growth-stage companies in capital-hungry, high-tech fields — AI, robotics, longevity, games and space — and comes with a new advisory committee that includes leading AI figure Yann LeCun and other global leaders.

The announcement is a clear signal: HIRO wants to play a bigger role in the late rounds of deep tech in Europe and beyond. The firm is selling access to businesses that need patient capital and heavy technical help rather than quick exits. For market actors — LPs, competing VCs and founders — the headline is not just the sectors but the calibre of people backing the fund. That matters for deal flow and for how big checks will have to be if HIRO wants to move quickly in competitive rounds.

A sharper strategy: backing growth-stage deep tech with a global tilt

HIRO III is described as a growth-stage vehicle focused on technology that is capital intensive and has long time horizons. The sectors named — artificial intelligence, robotics, longevity science, games and space-related businesses — are areas where development costs and regulatory complexity tend to be high. That means the fund is targeting companies already past the idea stage and into meaningful commercial scale or near-scale up.

Geographically, the emphasis is on Europe with a likely UK anchor, but the fund’s positioning and advisory lineup point to cross-border ambitions. HIRO III aims to differentiate itself from earlier HIRO funds by leaning harder into deep tech and global networks rather than pure regional plays. Expect a mix of later-stage growth checks and capital reserved for follow-ons in winners rather than a portfolio of many small seed bets.

Compared with HIRO’s prior vehicles, the new fund appears aimed at larger, more concentrated bets. That’s the natural evolution for firms that want to influence strategy and product roadmaps at the companies they back, not just buy optionality on early-stage ideas.

Why Nick Clegg and Yann LeCun matter to LPs and founders

Sir Nick Clegg brings two things that are attractive to LPs: political muscle and tech-platform experience. His recent years in senior roles at a global social platform give him direct lines into policy debates, regulatory corridors and platform distribution — all useful when a portfolio company needs to scale or navigate public scrutiny. For founders, Clegg’s presence is a signal that the fund can help open doors in government and big tech.

Yann LeCun’s role on the advisory committee brings technical credibility. LeCun is one of the world’s most respected AI researchers; his seal of approval helps HIRO recruit and evaluate the kind of hard‑to-assess AI founders and teams that other growth funds might miss. Together, the mix of political, platform and technical talent gives HIRO III a distinct origin story: it’s not just about capital, it’s about access and judgement in regulated, complex sectors.

What this means for LPs, founders and competing VCs

For limited partners, HIRO III offers a targeted way to get exposure to late-stage deep tech in Europe. That can be attractive in a market short on big, disciplined growth funds with global reach. But it also carries the usual trade-offs: concentrated stakes, longer holding periods and higher idiosyncratic risk tied to technology adoption and regulation.

For founders, the fund’s arrival is good news if you build in one of the target sectors. HIRO can bring follow-on capital and introductions that matter — to strategic partners, policy makers and platform companies. The involvement of senior advisers makes HIRO a more appealing partner for companies that expect regulatory scrutiny or need to crack global distribution deals.

Competitors will notice. Other growth funds and corporate investors may respond by sharpening their own sector focus or by competing harder on price for late-stage winners. That may push valuations up in the areas HIRO targets, at least for quality names with clear paths to monetisation.

Expected deployment cadence and typical cheque sizes

HIRO III’s sector focus and growth-stage mandate suggest a concentrated book and a measured investment pace. Expect the fund to write mid-to-high single-digit million euro/dollar initial checks for later-stage rounds, with larger follow-on reserves for winners. The likely cadence is slower than seed funds: fewer deals, larger tickets and multi-year commitments to winners.

Holding periods will probably mirror typical growth funds — several years of active support before an exit is sought. Fund economics were not disclosed at launch; market comparables for similar Europe-focused growth funds point to a mix of concentrated bets and follow-on discipline rather than broad indexing of sectors.

Key risks and regulatory friction to watch

The biggest risks are familiar: fundraising cycles can tighten, and deep-tech sectors are cyclical and capital intensive. AI faces fresh regulatory scrutiny in Europe, and areas like longevity and space carry scientific and policy uncertainties that can delay returns. High-profile advisers bring benefits and risks: their involvement can accelerate deal flow, but also create reputational scrutiny or conflicts of interest if they remain active in other roles.

Finally, competition for the same late-stage winners may inflate prices, making it harder for any single fund to secure attractive entry points without overpaying.

What to watch next and practical next steps for readers

Expect HIRO to publish more details about team hires, target fund size and a timetable for first closes in the coming months. Founders who fit the sector profile should flag interest to HIRO’s business development team; LPs should look for the firm’s pitch materials and track record on prior fund exits and follow-on performance.

For market watchers, the key milestones will be reported first investments and the fund’s first close. Those will reveal how much capital HIRO has raised and whether the market takes the advisory bench as a decisive edge. In short: HIRO III is a meaningful addition to Europe’s growth landscape — promising, but not without the hard questions investors will want answers to before they commit.

Photo: BOOM 💥 / Pexels

Sources

• prnewswire.com