After reviewing our pitch, 6C Ventures offered to undertake a £300k allocation toward our pre-Series A investment round. However, despite being repeatedly assured we were on the very brink of raising the allocation of £300k at an agreed pre-money valuation of £2.5m in May 2021, this figure was revised by 6C Ventures to £200k in June 2021 while stating they already had £150k "signed off in escrow" and were happy to release £150k to £200k immediately while performing a "rolling close of the round". However, after repeated missed deadlines we urged 6C Ventures to release £150k immediately as previously agreed and the company 'went dark' (removing all scheduled meetings from calendar without explanation) and are no longer communicating with us. 6C Ventures' maltreatment of us is not an isolated incident. We since learnt they have form in their dealings with start-ups and have done precisely the same thing to other companies, having spoken with the director of another start-up that experienced the exact same thing at the same time. The misrepresentation of 6C Ventures, who continually assured us the successful completion of the round was imminent, has left our project operationally paralysed and indebted with great irrecoverable personal loss to its founders.
