Octopus Ventures tops up £100m funding with seasoned mobile games entrepreneur

Eyal Rabinovich joins the venture capital firm with experience as the founder of Israel-based games publisher PlayScape. He boasts 13 years of tech industry experience, while PlayScape was launched back in 2008 when he was just 24.

Alongside his fellow founders, the company scaled to 70m users in 25 countries with a team of 40 staff, making Rabinovich an ideal candidate to support the fast-growth Octopus sets its sights on.

His arrival follows news that Octopus topped up finances in April with £100m, which took funds above £400m. The firm said at the time more than £75m would be invested in companies this year.

“Adding a further £100 million to our early stage funds indicates the opportunity and belief we have in the developing European entrepreneurial ecosystem, and provides Octopus with the funds to continue to support these exceptional entrepreneurs,” said Alex Macpherson, head of Octopus Ventures.

“At Octopus, we want to be there supporting them from the beginning of their business journey to the later stages of growth.”

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Rabinovich held the role of VP of business affairs at PlayScape, during which he established key partnerships with Google, Amazon, Orange and NTT DoCoMo. As the company achieved growth, it raised $16m from investors globally.

He said: “I am pleased to be joining the Octopus Ventures team and am looking forward to being part of the London and European technology ecosystem, while keeping an eye on the Israeli startup scene.

“The developments in recent years, particularly in the UK, have been significant in terms of access to funding, business support and entrepreneurial ambition. I’m excited to now have the opportunity to use my technology experience to help support others as they build the businesses of the future.”

Macpherson added: “It’s great to have Eyal on board and we look forward to benefiting from his hands-on entrepreneurial experience as we look to identify and support the people building impressive businesses.”

Outside of the VC world, these numbers show UK angels are providing stairway to entrepreneurial heaven.

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