Two Magnolias

About Two Magnolias

Two Magnolias Investment Ltd (brand Two Magnolias or Two Magnolias Venture Capital) is a UK early-stage impact venture capital firm headquartered at Lothbury in London. The firm was originally founded as an angel investment vehicle in December 2019 by Jessica Rasmussen and Marie Korde, transitioned to a regulated VC structure with formal incorporation in June 2021, achieved first close of Fund I in September 2022 and completed final close in early 2024. A Fund II was indicated by management as launching during 2025. The firm operates as a private limited company classified under fund management activities and is an appointed representative of The Fund Incubator Limited under FCA regulation. Assets under management as of December 2024 are not publicly disclosed (Fund I total commitments not published; deployment across 18 investments implies a sub-GBP 20 million emerging-manager fund). The firm has built a thesis around backing UK-incorporated globally-scalable companies founded by entrepreneurs solving sustainability and human health challenges, with explicit mandate to back underrepresented founders.

Investment thesis

Two Magnolias pursues an early-stage venture capital strategy backing UK-incorporated globally-scalable companies founded by entrepreneurs solving sustainability and human health challenges, with an explicit mandate to back underrepresented founders covering women and ethnically diverse leadership. The firm targets pre-seed to Series A opportunities. Sector focus covers Sustainability and Transformational Economy (new materials, circular economy, energy transition, carbon capture, waste management) and Human Health (digital and consumer health, health tech, medical diagnostic tools, MedTech and devices, PharmaTech, synthetic biology and agritech and foodtech). Geographic scope is UK only, with investments restricted to UK-incorporated companies and a stated emphasis on founders based in the Nations and Regions outside London (Scotland, Wales, Northern Ireland and English regional clusters). Ticket size is GBP 100,000 to GBP 1,000,000 initial cheque. The limited partner base is not disclosed in primary sources. Value creation operates through hands-on portfolio support emphasising ESG embedding, founder development for underrepresented entrepreneurs, board-level engagement and access to a senior advisory network. Portfolio impact metrics emphasise founder demographics with 50 percent female-founded and 41 percent ethnically diverse-founded among the first 12 investments.

Recent activity

Recent investments include Sprive in fintech and consumer mortgage (2025), Movetru in health and MedTech covering movement tracking (2024), FuturePlus in sustainability and ESG software (2024) and The Better Menopause in women health (2023). No exits have been disclosed given Fund I final close was only completed early 2024. The platform continues to deploy across UK pre-seed to Series A impact-tech with explicit underrepresented-founder mandate. Detailed buyer names and multiple data available on Pro at €29/month.