We've been spending some time in the UK and really think the ecosystem in London is impressive and growing with real companies doing great work. We haven't invested any UK-based startups yet, but have funded many UK founders, if that's worth anything? :-)
We wanna invest in folks early. The fund isn't for investing in B's or C's or later, since there are plenty of people who are good at that.
Also, great to hear about support for smaller team sizes and investing pre-team as it were, but what's the plan for growth sizes? Pushing for unicorns or some of the portfolio aimed at smaller niches?
Edit: also, used to be a Posterous user, and actually had a product in a similar space which Arrington read out on your TWIST episode :)