A Gloucestershire-based investment firm has completed 12 investment deals totalling £17m ahead of the tax-year-end deadline.
Blackfinch Ventures, which operates from Gloucester Business Park in Brockworth, has announced three new early-stage tech companies have joined its growing portfolio.
Customer experience platform Futr, recruitment and talent acquisition platform Placed, and behavioural data platform Measure Protocol collectively secured a total of £5m.
A further nine companies – including mobility platform Transreport and consumer feedback firm OnePulse – have received follow-on investment in totals ranging from £550,000 through to £2.64m.
The investment round follows Blackfinch’s first exit from one of its portfolio companies Candidate.ID. The automation software business was recently acquired by US-based talent cloud company iCIMS, which Black Finch said yielded a “strong return” on its two-year investment.
Blackfinch, which employs more than 100 full-time staff, said the latest round further cemented the firm’s reputation as a “go to” investor for tech companies.
Dr Reuben Wilcock, head of ventures at Blackfinch, said it had been “a very busy and exciting” period of growth for the firm, during which it had also expanded its more than 100-strong team.
Dr Wilcock said: “In 2021 alone we invested in 10 new companies, and I am delighted to announce that many of those businesses have grown rapidly and received further investment as part of this latest round. We are also delighted to welcome Futr, Placed, and Measure Protocol to the portfolio.
“The quality of these businesses shines through in the technology they are bringing to the market, and the talent of their teams. We are delighted that these passionate founders see value in having Blackfinch as an investment partner and look forward to playing an important role in furthering their growth ambitions.
“Similarly, the total of funds raised is reflective of a real confidence from both new and existing clients in our commitment, as an investment group, to cementing lasting relationships with disruptive businesses that create products to address real world needs.”
Blackfinch’s ventures team has invested a total of £45.8m across 27 companies and 57 deals since it was established three years ago.
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