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(Alliance News) - HgCapital Trust PLC on Thursday said it will invest around GBP27.3 million in Canadian cloud software provider Benevity Inc.
Calgary, Canada-based Benevity provides charitable donation-management and grant-management platforms using cloud software.
HgCapital Trust is investing alongside other institutional clients of Hg, its manager, through the Hg Genesis 9 Fund.
HgCapital Trust's liquid resources for future deployment amount to an estimated GBP166 million, and has access to a GBP200 million undrawn standby facility.
The investment will reduce HgCapital Trust's outstanding commitments to invest in Hg transactions to approximately GBP606 million.
HgCapital shares were flat at 305.08 pence each in London on Thursday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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