RSS

Pentech closes software fund

Article Date:  Sep 10 2008

Glasgow-based venture capitalist Pentech has raised £45 million for its latest fund, which will invest in software companies in the UK and Ireland. The fund will back businesses with global potential in the enterprise software, telecoms software, internet and mobile sectors.

The fund closed above its original target, according to Pentech. It has attracted support from existing investors such as European Investment Fund (EIF), Scottish Widows Investment Partnership and F&C Private Equity, as well as new investors such as UK government-backed NESTA.

Richard Pelly, chief executive of EIF, comments, ‘The [Pentech] team has developed a specific and focused investment strategy and brings with it an attractive skill-set comprising entrepreneurial experience and investment skills, together with strong ties into the growth markets in the US.’

Pentech launched its first fund in 2001, making 11 investments of which it has exited three.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Promote your business for FREE with Yellow Pages*

You could have your business details listed for FREE in the Yellow Pages directory. Find out more here. *Terms and conditions apply

Post Office® Business Insurance

At Post Office®, we can find cover for up to 95% of businesses. Tell us your renewal date today and you could win business insurance free for a year. Terms and conditions apply. Visit: www.postoffice.co.uk/businessinsurance

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

Rosenblatt New Energy Awards 2010

25th February, Natural History Museum, Cromwell Road, London SW7 5BD

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Fundraising Deals

Exosect wins funding for European roll-out

Environmentally friendly pest control specialist Exosect has secured £2.25 million of venture capital to bring their products to market.

Cognitive Match in Series B round

A developer of software that helps online publishers adapt their content to individual users has secured $2.5 million (£1.6 million) of equity finance.

Oxford Nanopore raises £17.4 million

New and existing investors have backed nanotechnology business Oxford Nanopore with an investment of £17.4 million.

Advertisement

Related articles

NVM backs ex-Ithaca management team

The former management team of Ithaca Business Media has secured £7 million from NVM Private Equity to fund a new business. CloserStill Holdings has been created to purchase mid-sized exhibitions and event businesses, which the management believes it can sell on to larger players.

Cancer vaccine specialist in PLUS IPO

A company developing a pipeline of cancer vaccines has raised £1.55 million in an initial public offering (IPO) on PLUS. Scancell raised the money through AIM-listed broker St Helen’s Capital. 

Busy month for YFM

Venture capital firm YFM has invested in two Yorkshire-based software companies through the Yorkshire & Humber Equity Fund (YHEF). Mobile Safety Solutions develops web-based software for mobile workers, while MyKnowledgeMap provides learning technology to the public and private sectors.

2e2 in PE-backed bid for Netstore

IT services company 2e2, which has been owned since 2006 by private equity (PE) firm Duke Street Capital, is to acquire AIM-listed Netstore, a specialist in IT security and outsourcing. The offer price is 32p per share, valuing Netstore at £58.1 million.

Poll

Which currency will gain most this year?





Have your vote on current issues

People who read this also read

  • Why Silicon Valley rocks

    Silicon Valley is like a supermarket for entrepreneurs – everything is available within a few square miles, from finance to technology teams, lawyers, networks and resources, and of course it’s sunny.

  • Learn to switch off

    Picture yourself in a situation where your bankers are becoming increasingly difficult or you are losing money and have to make job cuts among friends and colleagues to survive. It may not be that difficult to imagine.

  • Successful bastards

    Self-centred, tough, ruthless and unpredictable: these are the characteristics of a successful person, according to a book published this week.

  • Vodafone extends Australian coverage

    A UK mobile phone giant has expanded its operations in Australia after buying part of a local retailer. Vodafone now holds a stake in Crazy John’s, following a distribution agreement that the two companies formed last year.

  • Penta and Investec back GRS buy-out

    Private equity company Penta Capital and private bank Investec have backed the management buy-out of GRS, a headhunting firm serving the financial and legal sectors. The deal is worth £18 million, of which Investec’s growth and acquisition finance division provided £5.25 million through a combination of invoice and acquisition finance.

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

Governing

Is a monthly magazine whose primary audience is state and local government officials: governors, legislators, mayors, city managers, council members and other elected, appointed and career officials.

More