Steve PughContact

VENTURE BUILDER

Building AI-first software ventures with founders and investors

I lead Next 11 Ventures, an AI-first software venture builder based in the UK. We take promising ideas, existing IP and market-ready opportunities and turn them into commercial, investable software businesses — with the leadership, capital and operating muscle to scale.

Get in touch

Newcastle, UK

Portrait of Steve Pugh, CEO and C-suite consultant

What a venture builder actually does

Unlike a traditional VC, a venture builder gets its hands dirty: we co-found, staff, build product, secure early customers and take genuine operational risk alongside founders and investors. That means the difference between a good idea and a live, revenue-generating business measured in months, not years.

Where we focus

AI-first software applied to real industry problems — energy, engineering, professional services, portfolio operations and B2B workflow. We look for opportunities where domain expertise, existing data and generative or agentic AI combine to displace incumbent tools or unlock entirely new categories.

How we engage

Three models: (1) building ventures ourselves from thesis to Series A; (2) partnering with corporates and investors to spin out ventures from existing IP or business units; (3) providing operational and technical support to portfolio companies that need to move faster with AI.

Who this is for

Founders looking for an experienced operating partner, investors who want ventures actively built rather than passively backed, and corporates or portfolios sitting on IP, data or market position they haven't yet productised. If any of that sounds like you, get in touch.

SELECTED IMPACT

Positive measurable impact

€250m+

Portfolio revenue supported.

3000+

Employees across portfolio.

144

Countries reached by Roadmap MBA.

200%+

Net profit growth at Bignall Group.

£300m

Contracts supported by Tees Valley Catalyst Fund.

-20%

Overhead reduction on restructure with no loss in revenue or performance

+30%

Efficiency through the implementation of AI

22,000

Followers on LinkedIn

FAQ

Frequently asked questions

How is a venture builder different from a VC or accelerator?
A VC writes cheques and advises. An accelerator runs cohort programmes. A venture builder co-founds and operates: we take equity, take operating risk, and build the business alongside the founders — product, hiring, GTM, fundraising — until it can stand alone.
What stage do you invest at or build from?
From thesis and pre-formation through to Series A. We're most useful in the zero-to-one and one-to-ten phases where operating experience compounds fastest, and often stay on the board or as an operating partner afterwards.
What sectors is Next 11 Ventures focused on?
AI-first software applied to sectors with rich data and workflow friction — energy and offshore, engineering and manufacturing, professional services, portfolio operations and B2B workflow tooling. We look for domains where AI meaningfully changes the unit economics.
How do we get in touch about a venture idea?
Email hello@stevepugh.co.uk with a short outline — the problem, the market, the unfair advantage and what you're looking for. If it fits, we'll set up a call within a week.

CONTACT

Get in touch.

For CEO, interim leadership, board advisory, consulting or venture-building opportunities — drop me a line.

BASED
Newcastle, UK
LINKEDIN
Steve Pugh

Enquiries treated in strict confidence.

Steve Pugh