The Hg Foundation has made a social investment in Cornerstone VC, born out of black-led angel group Cornerstone Partners, to invest in exceptional entrepreneurs in the UK from diverse backgrounds, and from all corners of the UK, that are too often overlooked and underestimated by the wider funding community

The fund will focus on tech-enabled companies at pre-seed and seed stage. It plans to invest in up to 40 companies with a significant proportion based outside of London. Cornerstone VC is also offering support to scale companies through HR support, strategy and funding support, and an expert network of function specialists.

The Hg Foundation is a founding investor of the new fund, alongside senior Hg partners, BGF and Atomico. With Cornerstone’s explicit focus on supporting companies led by teams from diverse backgrounds (including diversity in age, geography, gender and ethnicity) the social investment supports the Foundation’s mission to enable under-represented groups to access and succeed in the technology sector.