Venture capital firm Outlier Grove LLP has achieved direct authorisation from the UK's Financial Conduct Authority (FCA), effective from 29 June 2026.
Outlier Grove is a London-based venture capital firm backing early-stage European B2B technology companies. The firm was incorporated in 2024 and launched publicly in April 2025. It has permissions related to investment and advice, and was previously an appointed representative of The Fund Incubator from October 2024 to June 2026.
Press reports at launch described Outlier Grove as a $20m fund investing $200,000 to $500,000 in early-stage European B2B startups. The firm's focus is on helping European companies engage with the US market earlier in their development. [1][2]
Candice du Fretay founded Outlier Grove and holds the SMF16 Compliance Oversight, SMF17 Money Laundering Reporting Officer, and SMF27 Partner roles. Before launching the firm, she was an early-stage investor at Accel in London, working across consumer, enterprise software, and fintech. She previously spent almost a decade in the US, including in financial advisory at Lazard.
At Accel, du Fretay worked with companies including Conduktor, H Company, Lightdash, Sorare, and Swan. Her launch announcement said Outlier Grove is backed by US-based entrepreneurs and executives, as well as European founders who have scaled into the US.
References
[1] Tech.eu, "Candice du Fretay launches $20M Fund Outlier Grove to accelerate European B2B Startups in the US", 8 April 2025: https://tech.eu/2025/04/08/candice-du-fretay-launches-20m-fund-outlier-grove/
[2] Sifted, "Ex-Accel investor Candice du Fretay launches $20m solo GP fund", 8 April 2025: https://sifted.eu/articles/candice-du-fretay-20m-fund
