By Timothy Adler on Small Business – Advice and Ideas for UK Small Businesses and SMEs
Pitalia Capital has launched a £50m equity fund to invest in small businesses across Britain.
The money will be used either to fund growth for early stage companies or to back management buyouts of mid-sized firms.
The fund can deploy up to £10m per transaction.
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Pitalia Capital is part of the Pitalia group of companies and funded by entrepreneur Anil Pitalia.
John Davies, who has more than 20 years’ experience in venture capital, private equity and corporate finance, has been recruited from Seneca Partners as managing partner to spearhead this small business investment drive.
Davies was investment director at Seneca Partners for six years, where his deals included its exit from digital business communications specialist Mission Labs in a deal valued at £40m, giving Seneca a 4.2x return for investors.
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He was also deeply involved in Seneca Partners’ investment in Manchester-based Wejo, the connected vehicle data company, which recently announced plans for a $1bn Nasdaq listing.
Davies said: “What makes Pitalia Capital different is our personal approach