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FPE makes first investment from second vehicle – Exclusive

FPE Fund II is targeting investments in UK-headquartered companies in the TMT, financial services and business services sectors.

UK lower mid-market firm FPE Capital, which spun out from Stonehage Fleming Family Office, has made its inaugural investment from its second fund, it told PEI on Monday.

It has made a capital commitment to computerised test software provider Questionmark, whose products are used by companies to test and train employees.

The investment was made from FPE Fund II which is currently being raised with a target of £100 million (€114 million; $128 million). The firm held a first close on the fund in May.

The fund will make investments in UK-headquartered companies with revenues of between £5 million and £50 million across the TMT, financial services and business services sectors. It has attracted family offices and high net worth individuals who have committed to FF&P Private Equity funds, as well as funds of funds, endowments and foundations.

The investment in Questionmark complements one made via FPE’s first vehicle in Kallidus, a company which provides online human resources software to facilitate training within organisations on matters such as money laundering.