HSBC Private Equity is launching a new £108m European fund aimed at technology, media and telecoms companies.
So far, the fund has made four investments and two follow-on investments.
HSBC led a £9m second round of financing for Searchspace, an enterprise software company that helps banks detect fraud and money laundering using artificial intelligence. HSBC invested £5m and Friends, Ivory & Sime put in £4m.
The investor has also made lead investments in Fuel, a corporate e-learning company, and in Pocket IT, a Norwegian wireless company. Its other investment was in Ecoss, a Japanese enterprise software firm.
Andy Thesen, director at HSBC Private Equity, said the fund was benefiting from HSBC's other activities. “Our colleagues in the investment bank have a large technology practice,” he said. “It acts as an effective filter and introduces good quality dealflow.”
HSBC Private Equity is the European private equity arm of the HSBC Group. It has more than £1bn under management.