Oxford run seed fund makes first investments
Saïd Business School Seed Fund, an Oxford student run foundation, announced its that it is funding two start-up companies, ACE Consensus Ltd and Onfido Ltd, that were established by Oxford alumni.
ACE, a digital platform, was established in 2013 by Alex Money. It sends proprietary data regarding market prospects for publicly traded companies.
"ACE appeared on the Seed Fund's radar during the first round of application reviews," said Mark Clayton Hand, founding Chair of the Seed Fund committee and current MBA student.
"It turned out to be exactly the kind of start-up the Seed Fund looks to back: a high-potential management team working on a business that is high-growth and high-scale." Clayton said.
Onfido, on the other hand, was established in 2012 by graduates of Oxford University. It provides pre-employment reference reports and background checks. Their technology is mostly used by companies that require 'high trust' roles like domestic cleaning agencies. It enables businesses to cut back on hiring costs via its streamlined system.