Sir Nick Clegg has taken a role as a general partner at Hiro Capital, contributing to their new scale-up venture capital fund, Hiro III

Sir Nick Clegg, who previously served as Meta's president and the UK's deputy Prime Minister, has taken on a role as general partner at Hiro Capital. This comes as Hiro Capital introduces Hiro III, a venture capital initiative centered on the UK and Europe. The fund targets sectors such as spatial AI, robotics, longevity, gaming, and space and defense.

The company noted in a press release that Hiro III is a substantial, multi-stage fund, with capacity for investments ranging from $5.8 million to $58.7 million (€5-€50 million). It aims to address the significant need for large-scale investment in the UK and European markets.

Sir Ian Livingstone CBE, co-founder of both Hiro Capital and Games Workshop, expressed enthusiasm for Clegg's new role on LinkedIn. He mentioned, "Delighted to share the exciting news that Nick Clegg former Deputy Prime Minister and President of Global Affairs at Meta has joined us at Hiro Capital as a General Partner to launch our third scale-up VC fund."

Clegg explained his decision to join Hiro, emphasizing his shared belief with the founders in the growth of immersive computing and Spatial AI. He stated that the shift from merely viewing the internet to experiencing it is underway, with spatial technologies and advanced AI models at the forefront. Clegg noted that Hiro is distinct in its focus entirely on these themes within Europe.

He further remarked on the opportune moment for technological advancements in the UK and Europe, citing the region's exceptional researchers, universities, engineers, and entrepreneurs. Clegg argued that the challenge lies not in innovation but in the availability of large-scale capital. Despite criticisms, he sees Europe’s dynamic start-up ecosystem primed for growth, and believes Hiro is uniquely positioned geographically and technologically to drive this advancement.

Additionally, Hiro Capital has bolstered its advisory board with prominent figures. New additions include Professor Yann LeCun, a former chief scientist at Meta and a Turing award laureate in deep learning, Malcolm Turnbull, ex-Prime Minister of Australia and noted tech investor, alongside Major Tim Peake, a scientist and test pilot who holds the distinction of being the first British ESA astronaut.