# Toscafund Asset Management: portfolio, investments and team

> Toscafund Asset Management is a vc firm based in United Kingdom. 7 investments on record, latest Oct 2025. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/toscafund (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Investor](https://millionrounds.com/investors)

# Toscafund Asset Management

Last cheque observed Oct 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

VC firm Quiet

Growth Series C Venture B2B Video Streaming

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 7 on record

Since the last cheque **384** days **00** hrs **00** min **00** sec

Median round **$41M** Rounds led **0 of 7** Sole investor **1 rounds** Exits **1 from the portfolio** Mostly in **United Kingdom, 100%**

Pitch Toscafund Asset Management

## Toscafund Asset Management highlights

- 01 7 rounds on record
- 02 Mostly Growth and Series C: 75% of its rounds
- 03 Sole investor in 1 rounds, median $14M
- 04 1 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** B2B Video Streaming
- **Based in:** United Kingdom
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **7 appearances**

- **2025** 1 round
- **Oct** **[INSTANDA](https://millionrounds.com/company/instanda)** Growth · GB · Silicon Canals **$20M** With 4 others
- **2019** 2 rounds
- **Jul** **[Atom Bank](https://millionrounds.com/company/atom-bank)** GB · Cityam **$62M** With 3 others
- **Jun** **[Cellpoint Mobile](https://millionrounds.com/company/cellpoint-mobile)** GB · FinSMEs **$14M** Sole investor
- **2018** 1 round
- **Mar** **[Atom Bank](https://millionrounds.com/company/atom-bank)** GB · FinSMEs **$205M** With 1 other
- **2015** 1 round
- **Nov** **[Atom Bank](https://millionrounds.com/company/atom-bank)** Venture · GB **$128M** With 1 other
- **2014** 1 round
- **Jan** **[Aldermore Bank plc](https://millionrounds.com/company/aldermore-bank-plc)** Growth · GB **$61M** With 1 other
- **2008** 1 round
- **Mar** **[SpinVox](https://millionrounds.com/company/spinvox)** Series C · GB · moconews.net **$100M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

DP **Damon Phillip Barber** COO i Form ADV

MB **Martin Brian Hughes** Founder i Form ADV

MJ **Martin James Mckay** CEO i Form ADV

NE **Nicholas Emery** CCO i Form ADV

We also hold **9** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$933M** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Toscafund Asset Management LLP
- **SEC number:** CRD 155132

Funds on its Form ADV

**9** private funds, **$1.4B** in gross assets · filed Jun 2024

Hedge **7** Private equity **2**

- TEMF LTD *Hedge* 42 investors $419M
- Tosca Focus *Hedge* 112 investors $406M
- Tosca Opportunity *Hedge* 103 investors $326M
- Tosca Proton L.P. *Hedge* 23 investors $90M
- Tosca Mid CAP *Hedge* 26 investors $78M
- Pegasus Fund *Hedge* 110 investors $52M
- Tosca Select II L.P. *Private equity* 2 investors $16M
- Tosca European Financial Recovery Fund LTD. *Hedge* 1 investor $11M
- Tosca Recovery Select SPV *Private equity* 8 investors $3.1M

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[SpinVox](https://millionrounds.com/company/spinvox)** Bought by [Nuance Communications](https://millionrounds.com/fund/nuance-communications) **$102M** Dec 2009

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Growth Series C Venture

Median round joined **$41M** the round, not its cheque Alone, median **$14M**

Led 0 of 7 rounds **0%**

- **Sole investor:** 1 rounds
- **Last cheque:** Oct 2025
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Growth *2*
- Series C *1*
- Venture *1*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [BBVA](https://millionrounds.com/fund/bbva) 3

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## Who they invest alongside

The investors most often in the same rounds as Toscafund Asset Management. A count of rooms they were both in, not a relationship either has claimed.

[**BBVA** VC firm **3** rounds together](https://millionrounds.com/fund/bbva)

## Recently backed

The latest companies Toscafund Asset Management put money into.

[**INSTANDA** $20M · Oct 2025](https://millionrounds.com/company/instanda)[**Atom Bank** $62M · Jul 2019](https://millionrounds.com/company/atom-bank)[**Cellpoint Mobile** $14M · Jun 2019](https://millionrounds.com/company/cellpoint-mobile)

## Quick answers about Toscafund Asset Management

### What does Toscafund Asset Management invest in?

Toscafund Asset Management invests most often at Growth and Series C (75% of the rounds on record), in sectors such as B2B and Video Streaming.

### How active is Toscafund Asset Management?

7 investments on record, 0 of them in the last 12 months. The most recent was in Oct 2025.

### What has Toscafund Asset Management invested in recently?

Its most recent investments on record: INSTANDA (Growth, Oct 2025), Atom Bank (Undisclosed round, Jul 2019) and Cellpoint Mobile (Undisclosed round, Jun 2019).

### How big are Toscafund Asset Management's cheques?

The median round it joins is $41M.

### Does Toscafund Asset Management lead rounds?

Rarely, if at all: none of its 7 investments on record names it as the lead.

### Where does Toscafund Asset Management invest?

Most of the companies it backs are in the United Kingdom (100%).

### Is Toscafund Asset Management investing now?

No investments in the last 12 months; the latest was in Oct 2025.

### Who does Toscafund Asset Management invest alongside?

Most often BBVA (3 rounds together).

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