The Emerging Companies team, a part of Investec’s UK Specialist Banking arm, developed Outward VC over the past 18 months, including sourcing investments in fast growing UK fintechs - Monese, Curve and Bud – which were rolled into the Fund and made available to incoming investors. Core to the Fund’s strategy is to reserve a substantial portion of the Fund for follow-on investments, evidenced by its recent follow-on investments in Monese’s $60m Series B in September 2018, Bud’s $20m Series A in February 2019, and Curve’s $55m Series B in July 2019.
Simon Hamilton, Head of Funds, Investec Bank plc, commented:
“The first close of the Outward VC Fund is a another significant step towards realising an ambition of developing a specialist funds platform within Investec’s Specialist Banking arm. Our specialist funds platform will be launching further funds in areas where we have market leading expertise to deliver value for our clients and investors”
Kevin Chong, Co-head of Outward VC commented:
“London’s fintech ecosystem is leading the world and we have a deep pipeline of attractive opportunities sourced via longstanding relationships. A number of investments are under negotiation and we will be announcing new portfolio companies over the summer.”
Devin Kohli Co-Head of Outward VC added:
“Outward VC’s distinctive edge is an experienced team leveraging the platforms of its investors to add real value to portfolio companies and we have demonstrated this by facilitating follow-on funding from top tier investors, senior hires, and commercial partnerships for our existing portfolio companies.”
For more information, please contact:
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Investec Corporate and Investment Banking
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