Sir Nick Clegg Joins HIRO Capital as General Partner with Launch of HIRO III European Growth Fund

HIRO Capital Welcomes Sir Nick Clegg and Launches HIRO III

In a significant move that will reshape the landscape of venture capital in Europe, HIRO Capital has announced the addition of Sir Nick Clegg as a General Partner. This announcement accompanies the launch of HIRO III, a new multi-stage European venture capital fund designed for growth-stage companies. The fund aims to allocate between €5 million and €50 million at each investment level, particularly targeting innovators in sectors with a pressing need for capital.

Expanding Horizons in Venture Capital

The founders of HIRO Capital, Luke Alvarez, Cherry Freeman, and Sir Ian Livingstone, have an illustrious record in nurturing startups, steering them toward substantial exits valued at over €10 billion in total. Their background highlights an impressive mix of entrepreneurial experience and technical acumen necessary for scaling businesses. Sir Nick Clegg, who has previously served as the Vice Prime Minister of the UK and President of Global Affairs at META, brings an additional layer of credibility and insight to the fund.

He stated, “I joined HIRO because I share the founders' conviction that immersive computing and spatial AI are on the rise. Instead of simply browsing the internet, we are entering a phase where we will live within it. This convergence between spatial technology and next-gen AI models is just the beginning of a significant platform shift.”

Focus on Innovative Sectors

HIRO III distinctly focuses on sectors such as spatial AI, robotics, longevity, gaming, space, and defense, laying the groundwork for what many believe will be a groundbreaking period in technological development across Europe. Sir Nick emphasized the opportunity presented by Europe’s unique landscape of top-tier researchers and universities, combined with an array of talented engineers and entrepreneurs.

“It’s not a question of innovation; it’s about scaling it,” he added. “Europe can often be its own critic, but the vibrant startups are ready to scale. Our team at HIRO has the geographic and technological breadth to help these companies reach the next level.”

A New Advisory Board

Also announced was a newly formed advisory board composed of distinguished leaders. Adding depth to HIRO III's strategic approaches, members of this board include academic and industry leaders such as Professor Yann LeCun, known as a pioneer in deep learning. LeCun remarked, “We are on the brink of a new phase of AI where systems can understand the physical world, integrate persistent memory, and reason complex actions.” He highlighted HIRO's capacity to exploit the upcoming wave of opportunity in Europe that centers around spatial AI and adjacent technologies.

The advisory board further includes notable figures such as Malcolm Turnbull, former Prime Minister of Australia, and Tim Peake, the first British ESA astronaut, alongside various experts in AI, defense technology, and bioengineering. Their collective insights are expected to guide HIRO in supporting its portfolio companies effectively.

Looking Ahead

Luke Alvarez expressed enthusiasm about the new additions to the team, stating, “We are at the dawn of a big bang in technology, driven by the convergence of computing with the physical world and autonomous agents.” He expressed optimism about Europe's potential to lead in forthcoming technological advancements, with an emphasis on technology as a force for positive change.

“We are eager to announce our first investments under HIRO III in 2026,” he concluded. This announcement marks a thrilling new chapter for HIRO Capital, as they prepare to elevate the next generation of European innovators.