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Crestbridge supports first close of Shard Credit Partners’ new £75m Venture Debt Fund I

Crestbridge’s UK funds team has provided a comprehensive suite of administration services to support the recent successful first close of Shard Credit Partners’ inaugural technology-focused venture debt fund.

The new ‘Venture Debt Fund I’ secured £16.5 million in commitments from the UK and European institutional investors, alongside UK technology industry entrepreneurs, on its first close, and will make investments in senior secured loans with equity warrants to venture capital backed businesses in the B2B ‘Service as a Software’ (SaaS) and Fintech sectors across the UK.
The fund has completed two investments with total commitments of £6.5m ahead of the first close and aims to complete around 15 investments per year during the three-year investment period. The target fund size at final close is £75 million, with a hard cap at £100 million, by June 2023.

Crestbridge’s UK team used market-leading technology, including Investran, to support the close and provided a full range of bespoke services, fund administration, investor onboarding, compliance, governance, and depositary services, enabling Shard Credit Partners to close the fund within a defined timeframe.

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