HIRO Capital's Power Play: Clegg and LeCun Bet on Europe's Tech Future

LONDON, UK – December 10, 2025 – In a move that signals a major consolidation of political, financial, and technological influence, London-based venture capital firm HIRO Capital has announced the launch of its ambitious HIRO III fund. The announcement is supercharged by the appointment of Sir Nick Clegg, Meta’s former President of Global Affairs and a past UK Deputy Prime Minister, as a General Partner. He is joined by a newly formed advisory board studded with global luminaries, including Professor Yann LeCun, one of the recognized godfathers of modern artificial intelligence.

This isn't just another fund launch; it's a strategic declaration of intent. HIRO Capital is positioning itself as a key architect of Europe's next technological wave, armed with significant capital and an unparalleled network to tackle the continent's most persistent innovation challenge: the scale-up funding gap.

From Policy to Portfolio: The Clegg Factor

The appointment of Sir Nick Clegg is perhaps the most telling aspect of HIRO's strategy. Having spent years navigating the complex intersection of global technology and regulation from within Meta, Clegg's move into venture capital represents a pivotal shift from shaping policy to directly fueling innovation. During his tenure at the social media giant, he was a vocal commentator on the state of European tech, often critiquing what he saw as a "catastrophic strategic miscalculation" where the continent focused more on regulating foreign giants than fostering its own.

His transition to General Partner at HIRO III appears to be the logical next step: putting capital to work to solve the very problem he diagnosed. "I joined HIRO because I share with the founders a belief in the rise of immersive computing and Spatial AI," Sir Nick stated. "We will move from staring at the internet, to living in the internet."

This move lends significant political and strategic weight to HIRO's mission. Clegg's experience provides the firm with an intimate understanding of the geopolitical and regulatory landscapes that shape technology, a crucial advantage when investing in sensitive and transformative sectors like AI, robotics, and defence. His presence is a powerful validation of HIRO's thesis and a magnet for founders who understand that success in Europe requires navigating more than just technical hurdles.

Bridging the Scale-Up Chasm

At the heart of HIRO III's mission is a direct assault on the "scale-up capital gap," a well-documented obstacle to European technological sovereignty. For years, analysts have pointed to a structural weakness in the continent's funding ecosystem. While seed and early-stage funding are relatively healthy, promising companies often hit a wall when seeking the larger, growth-stage funding rounds needed to compete globally.

Data from institutions like the European Investment Bank (EIB) paints a stark picture: European scale-ups historically raise about half the capital of their US counterparts. This funding disparity forces many of Europe's most promising innovators to either sell to foreign acquirers or relocate to the US to access deeper capital markets.

HIRO III is explicitly designed to counter this trend. With the ability to deploy substantial tickets ranging from €5 million to €50 million, the fund is targeting precisely that "missing middle" of the funding ladder. This isn't just about providing money; it's about providing the right kind of capital at the right time to allow European companies to achieve global scale from a European base. As Sir Nick Clegg noted, "Our problem is not a lack of innovation, it is a lack of capital at scale." HIRO III aims to be a significant part of that solution, providing a domestic alternative for founders with world-changing ambitions.

A Bet on Europe's Deep Tech Renaissance

The fund's investment focus is as ambitious as its structure. HIRO is targeting four key themes: Spatial AI and Cloud, Autonomy & Robotics, Space & Defence, and Augmentation & Longevity. These are not incremental innovations; they are foundational technologies poised to redefine entire industries. This "Superabundant future," as the firm calls it, is where HIRO believes Europe has a genuine right to win.

The firm's conviction is bolstered by the addition of Professor Yann LeCun to its advisory board. As Meta's Chief AI Scientist and a Turing Award winner for his pioneering work in deep learning, LeCun's endorsement is a monumental vote of confidence. "We are entering a new phase of AI – an era of systems which can understand the physical world, have persistent memory and which can reason and plan complex actions," LeCun commented. His vision aligns perfectly with HIRO's foundational focus on spatial technologies, which stems from the founders' deep roots in the gaming and 3D simulation industries.

This deep tech focus is well-timed. Europe's robotics industry is projected to be the fastest-growing in the world, while geopolitical tensions have ignited a surge in venture investment into European defence and security startups, reaching a record $5.2 billion in 2024. Simultaneously, the continent is a burgeoning hub for longevity biotech, driven by strong research institutions and an aging population creating demand for AgeTech solutions. HIRO's thesis is not a scattershot approach but a calculated bet on converging trends where Europe possesses unique strengths in research and engineering talent.

An Arsenal of Expertise

Beyond the headline names of Clegg and LeCun, HIRO has assembled a formidable team. The founding General Partners—Luke Alvarez, Cherry Freeman, and games industry legend Sir Ian Livingstone CBE—bring a potent combination of founder experience and investment acumen, with a track record of exits and IPOs exceeding €10 billion. Their past successes, including Sir Ian's involvement with companies like Sumo Group (sold to Tencent) and Mediatonic (acquired by Epic Games), provide the kind of hard-won operational wisdom that entrepreneurs covet.

The new advisory board extends this expertise across every one of HIRO III's target sectors. It includes figures like Major Tim Peake, the first British ESA astronaut, offering insight into the space domain; Professor Deeph Chana, founding Director of the NATO DIANA initiative, providing deep defence and security knowledge; and Dr. Jack Scannell, a biotech investor and creator of "Eroom's Law," lending credibility to the longevity thesis. This brain trust ensures that HIRO's capital will be guided by some of the sharpest minds in their respective fields.

As Luke Alvarez, HIRO's managing partner, summarized, "Today, we are in the early stages of a Cambrian explosion of new technologies... We all share the same belief in Europe's potential to be at the forefront of tech." With the launch of HIRO III, the firm is no longer just sharing that belief; it is underwriting it with a powerful combination of capital, influence, and expertise. The first investments are expected in 2026, and the European tech ecosystem will be watching closely to see which future champions emerge.