Beringea, a transatlantic venture capital firm and manager of the ProVen venture capital trusts, raised £64m across two funds.
The fundraise is related to:
– £39m raised for ProVen VCT and
– £25m for ProVen Growth & Income VCT.
They will enable Beringea, which now manages over $500m across its funds in the UK and the US, to continue to back rapidly scaling businesses in industries ranging from retail to digital media, fintech and software-as-a-service.
In the past six months, the firm has strengthened its portfolio in the UK through investing in:
– Exonar, a data discovery and cyber security company,
– AccessPay, a fintech company specialising in corporate payments, and
– Festicket, a portal for music festival experiences.
Alongside these new additions to the portfolio, Beringea has provided further backing to a number of its existing investments. This included participating in funding rounds for Firefly, a UK educational technology provider, and Zoovu, an artificial intelligence company that builds digital assistants for the likes of Microsoft, Amazon, and Canon.
It also led a £2.4m round of investment in DeepCrawl, a leading web crawler and marketing insights platform.
Beringea has offices in London, Manchester and Chicago.
FinSMEs
16/04/2019