Ian Osborne’s Hedosophia Seeks $1.4 Billion for Two New Funds

Hedosophia, an investment firm founded by Chief Executive Officer Ian Osborne, is planning to raise $950 million for its fifth fund, according to people with knowledge of the matter.

The London-based firm, which has begun discussions with prospective investors, is also targeting raising a so-called overflow fund that will be capped at $475 million, said one of the people, who requested anonymity discussing talks that aren’t public. The overflow vehicle is designed in part to enable investors in Hedosophia’s flagship fifth fund to gain additional exposure to individual companies that it’s backing, the people familiar said.

A Hedosophia spokeswoman ...