Investors’ holdings in FSB Technology (UK) Ltd (“FSB”) has been bought by strategic buyer Clairvest Group Inc, with the sale having completed on 31st July 2019.
Investment and corporate advisory business Committed Capital invested £597k into the company in late 2013, with investors receiving a return on investment of 2.71x (excluding tax relief) in line with the funds target return of 2-3x ROI.
The successful exit of FSB marks the third profitable exit for Committed Capital’s EIS investors and comes as the Growth EIS Funds approach their 5th anniversary since launching in December 2014.
Steve Harris, CEO of Committed Capital, said: “This is our third exit from our funds giving investors an impressive return multiple on their investment. The UK is a critical hub in the global tech ecosystem and a strong economic performer. Tech investment was the highest in Europe in 2018, and scale up investment also hit a record high, increasing by an astonishing 61% year-on-year. We are proud to support these growth stage companies with both capital and a hands on approach and we look forward to continuing to deliver an exceptional level of performance to our investors”.
Founded in 2007, FSB is a leading Business to Business sports and internet gaming technology supplier. Using a Software as a Service business model the company offers full end-to-end sports betting and internet gaming solutions which includes data and pricing feeds, a proprietary sports betting software platform, fully-managed trading services and more.
“We greatly appreciate the role that Committed Capital played in supporting the business early in its development, both financially and strategically longer term”. said Mark Blandford, Chairman of FSB.
Committed Capital’s Head of Intermediated Capital Raising, Glen Stewart said: This marks our 21st EIS qualifying investee company exit with 20 of those being profitable and just one having made a partial loss. We are delighted with the disposal of our holding in FSB delivering a return on investment of 2.71x (excluding tax relief) to our investors.
If you are interested in further information about Committed Capital and future opportunities, please contact us on firstname.lastname@example.org or +44 (0) 20 7952 6685.