Investcorp venture arm buys Moneybookers

Investcorp’s technology venture capital arm is buying a majority stake in UK online payments business Moneybookers for €105 million, realising some value for the current management team.

Investcorp Technology Partners, the technology venture arm of the Bahrain-based alternative asset manager, has bought Moneybookers, a UK-based online payments service, for €105 million ($140 million).


Headquartered in London, Moneybookers enables online merchants and e-commerce customers to securely send and receive online payments. The business now has nearly 3 million account holders.


Investcorp is buying its stake from the current management team, who will retain a minority stake following the deal. The investment comes out of the firm’s second fund, which closed in November 2005 on $300 million and is currently about 50 percent invested.


Investcorp Technology Partners invests in growth capital, buyout, corporate carve-outs and take-private opportunities in North America and Europe. It manages two funds with commitments of more than $500 million, with recent deals including the €90 million buyout of Conduit, Ireland’s largest independent directory assistance business, and the creation of Dialogic Corporation, a spin-out from chip-maker Intel.