- New London-based venture capital fund Blossom Capital has recruited Uber's ex-China expansion manager Candice Lo as general partner, and Deliveroo CTO Mike Hudack as a venture partner.
- Blossom Capital has yet to make any formal announcements, but sources said the fund is raising $75 million to $100 million and is close to closing.
- The fund was founded by Ophelia Brown, former general partner at early stage investor LocalGlobe, and is one of the few female-led funds in the UK.
New venture capital firm Blossom Capital has recruited former Uber China executive Candice Lo as a general partner, and Deliveroo's chief technology officer Mike Hudack as a venture partner.
Multiple sources confirmed Lo and Hudack's involvement with the firm.
Lo formerly oversaw Uber's expansion efforts in China before the business was acquired by rival Didi Chuxing in late 2016. She worked at Uber for five years before leaving in November 2017.
Business Insider understands that Lo has joined Blossom Capital full time, and is helping founder Ophelia Brown close its first fund. Sources said Brown was looking to raise between $75 million to $100 million (£53.9 million to £72 million), though the final amount could change.
Mike Hudack is chief technology officer at food delivery firm Deliveroo, one of the UK's biggest and most successful startups. As venture partner he will remain CTO and will not be part of Blossom full-time, but will likely source deals and help manage some investments.
Blossom Capital is still under the radar, although financial filings show Brown incorporated the company in May 2017. Brown was formerly general partner at LocalGlobe and left in April last year. Prior to that, she was an associate at Index Ventures, an investor in Deliveroo.
Brown has not spoken publicly of her plans for Blossom Capital, but it appears she has been busily recruiting behind the scenes. Business Insider understands her former colleague at Index Ventures, Imran Ghory, has also joined Blossom Capital.
One source said Blossom was in the "closing yards" for its fund, and that Brown was generally highly regarded in the venture community. They also speculated that Lo's prior experience in Asia and the firm's name suggested an attempt to appeal to Chinese investors.
Lo, Hudack, Ghory, and Brown did not respond to requests for comment. However, multiple sources told Business Insider of their involvement, and all four have valid email addresses at Blossom Capital.
Sources welcomed Blossom Capital's arrival in London, both as a new player to signal confidence in UK venture capital, but also as a rare female-led fund.
UK venture capital remains hugely lacking in diversity, with men dominating senior positions in firms.