The Enterprise Ventures (EV) Growth Fund, managed by the Group, was launched in June 2009, having attracted a total investment of £15.5million from local authority pension funds and institutional investors.
The Fund invests between £500,000 and £1.5million in the form of equity and equity-related funding to established profitable businesses to provide growth capital and fund mergers, acquisitions and management buy-outs.
In July 2015, the Fund successfully completed an exit through the secondary MBO of its 35% holding in IMC Worldwide Limited, generating an overall return of £4.2million, a money multiple of 4.2x and an IRR of 50%.
In October 2016, the Fund completed a further successful exit, with the sale of Barber of Sheffield, which represented a significant return on investment including an IRR of 44.5%.
The remaining portfolio continues to mature with a number of investees performing strongly and reporting increased profitability.
We are now progressing the launch of the second Growth Fund, Enterprise Ventures Growth II. For more details, please contact Katy Horrocks.
For further details about successful exits for the fund, find out more below;
IMC exit at 4.2x cost – 2015
Barber of Sheffield exit at 4.2x cost – 2016