London-based growth capital investor, VGC Partners, has appointed Andrew Lister as Investment and Portfolio Director as the firm looks to invest from its GBP50 million Fund II in high-growth consumer, media and technology businesses.
Lister joins from Marlin Equity Partners, where he spent over three years as a portfolio manager for European assets. Andrew worked alongside companies with revenues between GBP20 million and GBP100 million, mainly in the B2B technology space, and led post-closing initiatives to increase value ahead of eventual exits, acting as interim CFO in some cases.
Prior to this, Lister worked for KPMG for 10 years in the turnaround and restructuring advisory division. In his role as Associate Director, he led and managed UK and international turnaround projects.
As Investment Director, Andrew will provide investments diligence and seek out potential opportunities for VGC’s GBP50 million Fund II. In addition to this, Lister’s role will involve working alongside the portfolio’s management teams to drive operational performance and improvement, and help them achieve their objectives.
VGC Partners was established in 2011 by Parminder Basran. It operated on a deal-by-deal basis prior to launching its $40m maiden fund, the ‘Velos Partners Fund I’, which was anchored by Eduardo Saverin, the co-founder of Facebook.
The firm will be investing between GBP2m and GBP5m for minority stakes in high growth consumer, media and technology companies. It will back experienced management teams with enterprise values between GBP10 million and GBP25 million.
VGC recently completed the first deal from its Fund II, with a GBP2 million investment in sneaker retailer and fitness business, WIT Fitness. The company operates an online retail platform in both the UK and US markets, as well as a WIT Training Hub, a combined retail and gym flagship store.
Lister says: “VGC Partners has laid the foundations for an exceptional fund. The firm has a strong track record of investments and the backing of a reputable institutional investor in British Business Bank. With an experienced team behind it and a unique offering for businesses in the GBP10 million to GBP25 million space, VGC is set to make a significant impact on the funding landscape and I’m excited to be a part of it.”
Parminder Basran, Founder and Managing Partner at VGC Partners, says: “What makes VGC Partners stand out from the crowd is our ability to drive operational value, growth and profitability in our portfolio through our strategic partnerships across the consumer, media and tech industries. With this in mind, Andrew’s expertise and experience in working with talented management teams to help drive value and improvement makes him an excellent addition to our growing team.
“Now we’ve started investing from Fund II, we’re keen to maintain this momentum and Andrew will also support this by identifying and executing investment opportunities.”
