Euan Blair, son of former prime minister Tony Blair, has amassed a paper fortune of more than £160m after securing a record investment for his education technology start-up.

Multiverse, which aims to reduce reliance on university graduates by connecting major companies and tech firms with apprentices and school leavers, achieved a valuation of $875m (£646m) by clinching new backing from US investors.

It means the 37-year-old is now almost certainly wealthier than his father. Tony Blair has never revealed the details of his finances but Telegraph analysis in 2015 suggested that he had a £60m fortune.

The $130m funding round secured by Multiverse is a record for a UK “ed-tech” company. Mr Blair’s company helps corporations recruit apprentices out of school, receiving a small placement fee or revenues that are paid through the UK’s apprenticeship levy.

Mr Blair has previously spoken out against pressure on school leavers to attend university and argued the system leaves them ill-equipped for the world of work – in stark contrast to the New Labour policy of sending 50pc of young people onto a degree, one of his father’s flagship targets.

Multiverse helps students get a foot in the door at companies including Facebook and Morgan Stanley. It has also expanded to the US, where there are fewer formal apprenticeships for white collar jobs.

The former PM’s son owns at least 25pc of Multiverse, according to Companies House filings, which list him as a “person with significant control”. 

His stake in the business, which he co-founded with entrepreneur Sophie Adelman in 2016, leaves Mr Blair with a paper fortune of £162m