Hospitality technology veteran Frank Reeves has launched a €5 million fund to support early-stage travel and hospitality technology startups.
Reeves, who founded Avvio in 2002 before selling it to SHR in late 2014, said that €4 million of the fund is already committed, mostly to SHR and two other unnamed companies.
Up until recently Reeves has been chief evangelist at SHR Group but has now switched to the startup fund, which is called Voyria.
Voyria is looking to attract artificial intelligence-focused travel technology startups in the United Kingdom and Ireland and plans to support them financially through investments of between €50,000 and €250,000, as well as through mentorship. Reeves would also like to get other entrepreneurs involved in the fund.
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“I want to make a real difference to the startups I’m involved with — through sharing my experience of building, growing and selling a business and through angel investment, if appropriate,” Reeves said. “Voyria is a unique plant that draws the energy and nutrients it needs from nearby plants. This is what I want the Voyria Fund to do for the startups we work with – create a symbiotic ecosystem that really helps them thrive.”
Earlier this year, a group of online travel veterans formed Travel Tech 2, a €50 million growth stage fund aiming to attract up to 10 European companies.
Meanwhile, Roch Ventures launched in 2022 with about €100 million and has already invested in Raus, Apartool and WeSki.