SME investor Alcuin Capital Partners has held a second close on £81m (€95 million; $130 million) for its third fund, which is targeting £100m.
Alcuin's third fund will continue the firm's strategy of making growth capital and buyout investments of between £2 million and £10 million across a variety of sectors. The firm has already made two investments from its third fund, the first in organic waste recycling and waste-to-energy company Agrivert, and the second in AudioGo, a UK audiobook publisher recently acquired from BBC Worldwide. Alcuin has previously backed companies such as UK retail food and beverage franchise Caffè Nero.
Caffè Nero: Alcuin-
Alcuin was founded in 2002 by Mark Storey and Ian Henderson-Londoño after the two left BancBoston Capital, the European private equity arm of Bank of America that was merged into BofA in 2003.
“There's never been any deviation in strategy,” Henderson-Londoño told PEO. “We used to have an identical strategy when we were a part of BancBoston Capital.”
Alcuin expects to hold a final close for Fund III by the end of the first quarter this year. The fund's placement agent is Elm Capital Associates.
Limited partners in Alcuin's third fund include Alliance Trust Equity Partners, the European Investment Fund and Parish Capital Partners.