THE BRITISH BUSINESS BANK INVESTED IN PASSION CAPITAL’S £45 MILLION SECOND FUND VIA PASSION CAPITAL II LP
Transaction marked the British Business Bank’s 18th Enterprise Capital Fund investment
The British Business Bank announced that it has invested £17.5 million in Passion Capital II LP, the £45 million second fund from one of the UK’s best known venture investment firms. The commitment marks the 18th investment by the British Business Bank’s Enterprise Capital Funds (‘ECF‘) programme.
Passion Capital is a hands-on investor providing financial support and mentoring at a very early stage, helping to build companies and prepare them for accelerated growth.
The new fund builds on the success of Passion Capital’s first fund, which was also supported by British Business Bank’s ECF programme, and backed the early development of high growth companies such as Adzuna, CarThrottle, Digital Shadows, DueDil and GoCardless. The second fund will continue to have the same focus on early stage technology businesses seeking up to £2 million of investment.
Robert Dighero, Partner, Passion Capital, commented: “Our first fund cohort has made excellent progress and we are now looking to add further exceptional early stage businesses to the Passion portfolio. We are delighted with our on-going partnership with British Business Bank and will continue to invest in the very best, leading edge, UK technology start-ups.”
Ken Cooper, British Business Bank’s Managing Director of Venture Capital Solutions, added: “The Passion Capital team have a track record of early stage investment in UK technology companies. They have a valuable mix of financial and operational skills and a genuine enthusiasm for building strong companies, and we are very pleased to be able to back their second fund. This is a great example of the way the British Business Bank can work through its partner organisations to fill gaps in the funding market to provide real help to the UK’s smaller businesses.”
Passion Capital (http://passioncapital.com, @passioncapital) is one of the premier early stage venture capital funds in Europe. Established in 2011 and based in London, the managing partners Eileen Burbidge, Robert Dighero and Stefan Glaenzer have more than 50 years’ collective experience in entrepreneurial, founding and executive operational roles at tech firms. The three of them were personally involved in four of the largest European exits of the year over the last fifteen years and pride themselves on the strength of their portfolio company founders
| Limited Partners | Units Held | Capital Commitment | Sum of Drawdown 31 March 2019 |
| British Business Finance | 200 | 9,999,800 | 8,700,000 |
| Achim Becker | 60 | 2,999,940 | 2,610,000 |
| Harald Becker | 60 | 2,999,940 | 2,610,000 |
| Passion Capital II (FP) LLP Limited Partner | 42.5 | 2,124,958 | 1,848,750 |
| Susanna Vermogensverwaltungs mbH | 40 | 1,999,960 | 1,740,000 |
| Stefan Glaenzer | 32 | 1,599,968 | 1,392,000 |
| HUSKELAPP Vermogensverwaltungsgesellschaft mbH | 30 | 1,499,970 | 1,305,000 |
| Siebte PMB Management GmbH | 30 | 1,499,970 | 1,305,000 |
| Milimax ITE ltd | 20 | 999,980 | 870,000 |
| Mojo Partners PTE Ltd | 20 | 999,980 | 870,000 |
| SPC Ventures GmBH | 20 | 999,980 | 870,000 |
| Stefan Wiskemann | 13 | 649,987 | 565,500 |
| Actus Fastigheter | 10 | 499,990 | 435,000 |
| Christina Stangl | 10 | 499,990 | 435,000 |
| Daniel Crasemann | 10 | 499,990 | 435,000 |
| E-Len Fu | 10 | 499,990 | 435,000 |
| Farledico Investment Limited | 10 | 499,990 | 435,000 |
| Freiherr von Salmuth Beteiligungen AG | 10 | 499,990 | 435,000 |
| HAKKELOV Vermogensverwaltungsgesellschaft mbH | 10 | 499,990 | 435,000 |
| Hans Wilheim Jenckel | 10 | 499,990 | 435,000 |
| HUGGORM Vermogensverwaltungsgesellschaft mbH | 10 | 499,990 | 435,000 |
| QN Holdings Ltd | 10 | 499,990 | 435,000 |
| Kai Flint | 8 | 399,992 | 348,000 |
| RVP ONE PTE LTD | 8 | 399,992 | 348,000 |
| Sort Hest Limited | 8 | 399,992 | 348,000 |
| Shamita Etienne-Cummings | 6 | 299,994 | 261,000 |
| Familie & Vaekst ApS | 5 | 249,995 | 217,500 |
| Gamazon PTE Ltd | 5 | 249,995 | 217,500 |
| Sabine Cramer | 5 | 249,995 | 217,500 |
| Adam Knight | 4 | 199,996 | 174,000 |
| Andreas Wiele | 4 | 199,996 | 174,000 |
| Mark Xavier Zaleski | 4 | 199,996 | 174,000 |
| Ranch Hand Familiy Trust | 4 | 199,996 | 174,000 |
| Christoph Linkwitz | 3 | 149,997 | 130,500 |
| Denneboom Capital GmbH & Co KG | 3 | 149,997 | 130,500 |
| H2 Investments GmbH | 3 | 149,997 | 130,500 |
| RVP ONE GmbH | 3 | 149,997 | 130,500 |
| Jermyn Street Capital | 2.5 | 124,998 | 108,750 |
| Andrew Cummings | 2 | 99,998 | 87,000 |
| Helmut Sohler | 2 | 99,998 | 87,000 |
| Mark Stefano Dighero | 2 | 99,998 | 87,000 |
| Pa Einhundertneununddreisigste WT Holding GnbH | 2 | 99,998 | 87,000 |
| Patrick Fook Yau Lee | 2 | 99,998 | 87,000 |
| Richard Haring | 2 | 99,998 | 87,000 |
| Passion Capital II (FP) LLP | 250 | 250 | 250 |
| Adeeba Khan | 0 | 0 | 0 |
| Anna Vermogensverwaltungs mbH | 0 | 0 | 0 |
| Augsberg Investments Ltd | 0 | 0 | 0 |
| Christian Bartels von Varnbuler | 0 | 0 | 0 |
| Conren Estates FCP | 0 | 0 | 0 |
| Lopo Champalimaud | 0 | 0 | 0 |
| Robert Dighero | 0 | 0 | 0 |
| VAVE EuVECA Invest GmbH | 0 | 0 | 0 |
| Vistra Corporate Services Ltd | 0 | 0 | 0 |
| Grand Total | 1005 | 37,749,495 | 32,842,750 |
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