Triple Point, the London-based private markets firm, has marked a record oversubscribed fundraise into the Triple Point Venture VCT plc (“the VCT”) with its latest tax year raise having reached £36 million. This record fundraise demonstrates strong investor demand and continued confidence in the VCT’s strategy of backing scalable, early-stage B2B companies.
This milestone follows the VCT’s recent successful exit from Konfir – an employment and income verification platform – which has been profitably acquired by Experian.
The Triple Point Venture VCT provides investors with access to a diversified portfolio of more than 50 startups across 20 sectors. The VCT focuses primarily on B2B and B2B2C companies, reflecting their strong acquisition potential, with the aim of delivering attractive long-term returns for shareholders.
Seb Wallace, Head of Triple Point Ventures, commented: “Since 2019, we have raised over £120m of capital to invest into cutting edge, early-stage technology businesses. From 2020 to June last year, the combined market value of companies in the portfolio in which the VCT has a stake increased from £154 million (9 companies) to £1.6 billion (52 companies), as a result of strong deployment of capital and organic value creation across a portfolio of thriving UK startups*.These companies have contributed meaningfully to the UK’s economic growth and employment, with an estimated 2,500 jobs created by our portfolio alone.
“Our successful exit from Konfir, delivering an IRR of over 20% for the fund, highlights our ability to identify and support high-potential businesses at the earliest stages – while our record fundraise for the VCT reflects strong and sustained investor confidence in our strategy, and our ability to deliver long-term value for shareholders.”
*This is the combined total value of companies in the Triple Point Venture VCT portfolio, but does not represent the stake held by the VCT.
