Frequently asked questions

23mile is a special situations fund that invests in venture-backed startups transitioning from hypergrowth to profitability. We either invest in and restructure the business alongside founders, or acquire the entire business.

Venture-backed B2B software companies with £1m to £5m in recurring revenue, mainly in the UK.

When we invest, we take a stake in your business and work alongside you to restructure it and reach profitability. When we acquire, we buy the entire business, giving you and your investors a clean exit.

VCs need a few companies to grow very fast, so they often stop backing businesses that are growing steadily. Bankers arrive when you're ready to sell. We invest earlier, fix what's holding the business back, and give you options.

Act early. Extend your runway by cutting burn and focusing on revenue, and look at alternatives such as bridge rounds, venture debt or a strategic sale. The biggest mistake founders make is waiting too long for a VC round that doesn't come.

Start by being clear about what you want: the best price, a good home for your team and product, or the chance to step away. Our guide to M&A for startups covers the process in detail.
Our guide to M&A for startups

Yes. If a portfolio company has real customers and revenue but no longer fits your fund's model, we can invest in it or acquire it, giving you a route to an exit.

Yes. We know that staff, customers and investors may not know about your situation yet, and we're happy to sign an NDA before you share any details.