London-based Isomer Capital has announced the first close of its Opportunities fund. The new co-investment fund is comprised of various foundations, corporations, and family offices from Europe, Asia, and the US, including British Business Investments through its Managed Funds Programme. The primary objective of this new fund is to build on the firms’ fund-of-funds, Isomer Capital I, and the company reports that the €100 million is slated to be co-invested in approximately 20 companies sourced from the aforementioned fund.
“Together with our partner VC funds we continuously monitor the most promising portfolio companies that have rapidly growing revenues and address a market opportunity that could enable a company to become a world-class leader,” says Isomer Capital’s Chris Wade. “Isomer Capital Opportunities will typically invest in companies that have been in the Isomer portfolio for more than 8 quarters and demonstrate a strong fully-formed management team with a shared vision of building a global company.”
The influx of capital from British Business Investments arrives via its £500 million Managed Funds Programme, an initiative specifically designed to target the patient capital funding gap in the UK. With a commercial rate of return squarely in its sights, the Managed Funds Programme seeks to demonstrate the appeal of longer-term, later-stage venture and growth capital investments to institutional investors.
This is not the first time Isomer Capital and British Business Investments have interacted, as the latter has also invested in the €250 million Isomer Capital II fund-of-funds via its Managed Funds Programme.
“Isomer Capital is a specialist fund of funds manager, with well-established venture and growth capital investment capabilities. This commitment to Isomer’s co-investment fund is well aligned with the strategic aims of the Managed Funds Programme and will provide a steady stream of capital to innovative growing businesses across the UK,” concludes British Business Investments’ CEO Judith Hartley.