YFM Equity Partners has sold its stake in FourNet, a digital transformation platform whose clients include 10 Downing Street, the Cabinet Office, HM Treasury and the Bank of England. The deal, which is backed by Palatine Private Equity, generates a sixfold return for YFM’s investors.

British Patient Capital has invested USD75 million into Balderton Capital Growth I, a new USD680 million venture growth fund – one of the largest in the UK and Europe. BPC has also backed two previous Balderton Capital funds which focused on investing at Series A.

UK tech investor Balderton’s portfolio companies include AI drug discovery specialist Healx, self-driving software provider Wayve, eco-friendly homecare product provider smol, cybersecurity specialist Tessian and Zego, the UK’s first insurtech unicorn. Two other Balderton backed companies: Darktrace and The Hut Group, recently listed in London.