YFM Equity Partners has closed its latest fund, British Smaller Companies Venture Capital Trusts (VCTs), with £90m of committed funds in place, fulfilling its original £65m offer plus an overallotment facility of £25m.
Last December, the firm closed its Buyout Fund III at £95.5m, its highest to date for the firm’s buyout funds.
YFM’s British Smaller Companies VCT was first listed in 1996 and was followed by the British Smaller Companies VCT2 in 2000. According to a press release, the funds currently have more than 15,000 shareholders in place. The firm’s VCT investment strategy seeks to build a broad portfolio of investments in early-stage, smaller companies that are focused on growth. The firm’s portfolio includes Matillion, a Manchester-based cloud data integration platform.
With the latest fund close, YFM intends to invest across the UK, building on its regional presence established by offices in London, Leeds, Reading, Manchester and Birmingham.
In a statement, Eamon Nolan, a Managing Partner at YFM, said: “Undoubtedly, the longevity and strong track record of our BSC VCTs have proven a draw to new and repeat investors alike. All are attracted to the idea of supporting small, ambitious businesses, which are carving out leading positions in their sectors, from their regional bases.
“Our VCTs continue to bridge a funding gap for smaller, dynamic businesses seeking to accelerate growth and, in doing that, they boost the regional and national economies. We now look forward to helping more businesses fulfil their potential.”
