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13 Dec 2019 10:50
13 December 2019
Triple Point VCT 2011 plc
(the "Company")
INVESTMENT UPDATE
The Board of Triple Point VCT 2011 is pleased to announce that the Venture Share class (known as The Venture Fund) has completed its eighth qualifying investment.
An investment was made into an open API (application programming interface) platform that enables insurance companies to digitally join up their ecosystem of service providers, partners and distributors, passing data to and from each other as and when needed.
The platform enables insurance companies to launch and distribute products faster and at a fraction of the cost of current solutions.The Company invested alongside Outward VC and Notion Capital in a round totalling £2,500,000.
The investment is in line with the Company's investment criteria and risk and return profile.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP (Investment Manager) | Tel: 020 7201 8989 |
Belinda Thomas Harry Penberthy Daniel Cardenas-Clark Ian McLennan | |
The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/.
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.
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