XAnge joins $12m investment in UK company

The Paris-based firm, which counts among its LPs some of the first Moroccan-based private equity investors, raised a €50m fund in March.

An investor group that includes Paris-based XAnge Private Equity has invested $12 million (€8.3 million) in UK-based unified communications software company Voss to help fuel the company’s expansion.

XAnge joined early-stage venture capital firm Eden Ventures, and Pyrford Enterprises, in the investment. XAnge closed on a €50 million fund in March and looks to invest €1 million to €4 million in European and US small-cap companies.

Voss is a small but growing company that focuses on a quickly-expanding technology, and unified communications. The technology combines numerous forms of communications like email, voice over IP, fax, voice mail and instant messaging, in one environment. Voss’s software platform allows for the integration of various forms of communications technologies over networks connecting separate geographic areas.

Cyril Bertrand, of XAnge, said in a statement that Voss already has an impressive list of “blue-chip” clients, like IBM. Bertrand will get a seat on Voss’s board of directors, along with Mark Farmer of Eden Ventures.

“We look for innovation and a sustainable edge in a promising market when we bring startups into our high-performance portfolio,” Bertrand said.

Limited partners in the firm’s €50 million XPansion fund include La Banque Postale, insurance companies Assurances Generales de France, CNP Assurances, MACIF and Mutuelle Generale and Belgian bank KBC Asset Management.

The firm also has some of the first Moroccan-based private equity investors, insurance company CNIA Assurances and Moroccan pension fund CIMR, Herve Schricke, chairman of XAnge’s executive board, told PEO in a prior interview.

XAnge, which has €350 million in assets under management, closed its previous fund, venture fund XAnge Capital, on €65 million in 2003.