Playfair X Cambridge Angels
In the VC world, relationships and networks play a pivotal role in supporting startups from inception to scale. With this in mind, Playfair, one of the UK’s top pre-seed investors, has just joined Cambridge Angels as a corporate member.
In this interview Playfair Partner Henrik Wetter Sanchez gives a bit about his background, what sets Playfair apart, and why joining Cambridge Angels aligns so well with their mission
Can you tell us about your background?
My journey into venture capital started with my own entrepreneurial experience. While studying at Cambridge University, I founded a social navigation app. Although I ultimately chose not to raise funding for it, the experience gave me a real appreciation of the challenges founders face.
I then moved into angel investing, making around 40 investments through crowdfunding platforms. Two of those investments, Monzo and Revolut, became significant fintech successes. After spending two years in investment banking, I joined Playfair six years ago, as the firm was starting its second fund. I became a Partner two years ago as we launched our £50M Fund 3.
What makes Playfair different?
Playfair takes a unique approach to early-stage investing. Unlike many pre-seed investors that operate high-volume strategies, we pride ourselves on our low-volume, high-conviction model, not dissimilar to many angels. We make up to six new investments per year and this allows us to devote significant time and resources to each portfolio company. The proof that this approach works is in our stats; a 75% graduation rate from pre-seed to Series A, far exceeding all industry benchmarks.
We also have a unique structure. Unlike most funds, which have multiple limited partners (LPs), we just have one - our founder Fede - who originally started as an angel himself. This structure allows us to combine the best elements of angel investing, namely personalised support and agility, with the advantages of a structured venture fund, including access to significant follow-on funding and a dedicated investment team to support founders.
Can you share some examples of Playfair’s recent investments?
Of course! Our portfolio reflects our thesis as a generalist investor with focus where technology is at an inflection point for an underserved industry combined with a clear commercial insight. Here are a few recent examples:
- Astral Systems: we co-led their pre-seed in 2024 alongside several Cambridge Angels and Speedinvest. Astral is leveraging modular nuclear fusion technology to produce radioisotopes for pharmaceutical applications, including cancer treatment. While nuclear fusion is often associated with energy generation, Astral’s approach taps into an underserved market with high-impact potential.
- Protex AI: This company integrates AI-powered computer vision with existing CCTV systems to proactively enhance workplace health and safety. We backed Protex AI in 2021, recognising that computer vision technology had matured sufficiently to support a scalable B2B SaaS business. They have just announced their $36M Series B.
- Qureight: Another co-investment with Cambridge Angels, Qureight accelerates drug development by analysing medical images. We backed the company’s co-founder early in his transition from academia to entrepreneurship and supported him in translating deep technical expertise into a commercial venture.
Why has Playfair joined Cambridge Angels as a corporate member?
We’re so pleased to be developing our relationship with Cambridge Angels (CA). As mentioned, our founder, Fede, started as an angel and Simon, Chair of our Investment Committee, is already a board member of the group. We have already co-invested with several CA members so we have seen the strengths of the CA network and its diligence process and we share a deep connection to angel investing.
Cambridge remains one of Europe’s premier technology hubs, and we see immense value in engaging with its network of experienced angel investors. Furthermore, the longer time horizon that many Cambridge Angels members adopt to investing also aligns well with our patient approach to company-building.
But we want the benefit to run both ways; as we aim to maintain relationships with >90% of investors in the European venture landscape we hope this can offer a compelling benefit for Cambridge Angels and their portfolio companies. As startups progress beyond the early stages, our relationships at the Seed, Series A, and later stages can facilitate introductions and follow-on funding, providing a critical bridge to growth capital.
Final thoughts
Joining CA as a corporate member is a natural fit for us. We bridge the gap between angel investing and institutional VC, offering not just capital but deep engagement and strategic support.
We also believe in being accessible. Anyone should be able to reach us, whether through our website or in-person meetings in Cambridge. Between myself and team members Sheff and Felix, we’ll be in Cambridge regularly, and we love meeting founders over coffee or a call. Personally, I studied in Cambridge, so it’s always great to be back!