Gloucester’s Blackfinch Ventures caps off £1.3m investment round
Blackfinch Ventures, the venture capital arm of Gloucester-based Blackfinch Group, has completed a £1.3m investment round and plans to make its first dividend payment this April.
The round built on the firm’s strategy to back a diverse range of high-potential, early-stage tech businesses across the UK.
CEO Richard Cook said: “I’m incredibly proud of the contribution Blackfinch is making to the UK economy through the investment and support which we provide to our VCT investee companies.
“VCTs supply vital capital to emerging companies, fuelling not just their growth but also contributing to job creation and wider economic development.
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“Over the years, we’ve established a strong portfolio of high-growth firms which provide an industry leading exposure to underlying revenue growth.
“It’s fantastic that our VCT is now able to target dividend payments for 2024 and beyond as this now enables a wider range of investors to consider investing with Blackfinch.”
85 per cent of Blackfinch’s investments have experienced annual revenue growth of 25 per cent or more, with data from alternative investment platform Wealth Club highlighting the firm’s strong exposure to high-growth companies relative to other UK VCTs.
Dr Reuben Wilcock, head of ventures at Blackfinch, added: “Our investment strategy is in step with the UK’s drive to nurture a dynamic early-stage tech ecosystem.
“We emphasise identifying and supporting early-stage businesses that showcase not only innovative technology but also sustainable and scalable growth, contributing to the UK’s technology sector and economy.”
Among the startups in Blackfinch’s spring VCT portfolio is Tended, who make wearable devices designed to improve safety in high-risk work environments like the rail industry.
The product was featured in Time Magazine’s best inventions of 2023 – and, Blackfinch says, is a perfect example of the kind of ‘impactful technological solutions’ it’s looking to support.
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