Theo Osborne, the chancellor's younger brother is planning to launch an investment fund targeting tech start-ups.
In an interview with the Evening Standard, Osborne outlined his plans to launch the Force Over Mass fund. Accelerator fund, which will typically invest in high growth, innovative early stage businesses.
Osborne, who co-founded Force Over Mass LLP along with Martijn De Wever, a former credit trader at HSBC, said the launch was expected in a couple of months.
'There’s been a big exodus from Silicon Valley, especially for tech start-ups, which are coming to London. There’s a real co-working revolution going on here,' he told the Evening Standard.
'[The new company] is a bridge between tech and finance and it’s going to be really awesome. Find them, fund them, then mentor them.'
De Wever left HSBC in June 2013 according to FCA register, and the partnership received regulatory approval in Novermber 2013.