UK-based WeTrack, a sports and events management software platform, was successfully acquired last month by Momentus Technologies. Foresight’s Thames Ventures funds - previously managed by Downing LLP - first invested in WeTrack in 2015, and today it has announced the exit has given investors a 2.8x return.
“The Foresight and Downing teams were our first investors and I will always be grateful for the vote of confidence they provided in the early days. We’re delighted with this outcome which is testament to the hard work of the entire team,” says Peter Ward, founder and CEO of WeTrack.
This is the fourth exit in the last nine months from Foresight’s Thames Ventures funds, all four of which have attracted US based acquirers.
“WeTrack offers a leading project management and incident tracking software with a sustainability focus which perfectly complements Momentus Technologies’ platform. This sale provides another attractive return for our investors. We wish the team all the best for the future,” says Richard Lewis, Managing Director of Foresight’s Thames Ventures funds.