![]() "The reason I liked it was that it was a completely new approach," said Lynch during a phone call with Business Insider last July. ![]() ![]() The company's technology, which can spot unusual email activity and suspicious file uploads, is underpinned by complex maths that was developed at Cambridge University. However, only four companies are listed on the Invoke Capital website. So far it backed around 10 technologies, according to Lynch, with tens of millions of pounds spent. Invoke isn't like a normal venture capital fund, instead turning to unnamed backers who give it capital as and when it wants to make investments. The Invoke Capital fund was formed in 2012 and Lynch is using it to invest in up and coming UK and European tech firms. All the understanding of clever, high growth, software people wasn't there." The problem was the week after the deal they get fired and we're left with a hardware group that used to call us the step-child. What they wanted to do was to take the company, refocus it into this new age of big data and software and machine intelligence and that was exciting and we got convinced by them. The people that were doing it at the time, Leo and Shane (head of strategy), had an amazing strategy. So when Hewlett Packard came along and wanted to make its offer, we couldn't stop them. He added: "The UK model is there's no way of stopping a takeover. Years later when he sold the company to HP, I wasn't surprised that it was the largest AI exit ever (still the case) and one of the top three technology exits from Europe in history (still the case)."Īutonomy made a number of other sizable acquisitions including: search software rival Verity ($500 million, December 2005) email archiving and litigation support company Zantaz ($375 million, July 2007) records management software firm Meridio Holdings (£20 million, October 2007) enterprise content management firm Interwoven ($775 million, January 2009) and online backup provider Iron Mountain Digital ($380 million, May 2011).Ĭommenting on the fallout between HP and Autonomy at TechCrunch Disrupt last December, Lynch said: "It's a sad thing that happened in the end." "I learned a great deal about business, product, marketing and the competitive element that is at the core of really successful organisations through the opportunity I had working for him as Autonomy's US CTO. It's rare to find someone who is a PhD in data science but also a visionary product marketer and talented organisation builder. Chandratillake is now a venture capital investor at Balderton in London.Ĭhandratillake told Business Insider: "Mike is a uniquely talented entrepreneur, especially within the European ecosystem.
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