Advent sells Inca

Advent Venture Partners has sold Inca Digital Printers to Japanese group Dainippon Screen in a £30m transaction.

The sale has earned Advent Venture a return of 3x its original investment and an IRR of 27%.

Inca is a manufacturer of industrial inkjet printing technology based in the UK. It was founded in 2000 as a spinout from Cambridge Consultants, and Advent made its first investment the same year. Advent First LP was the original investor, and Advent Private Equity III and Advent 2 VCT participated in the second funding round in October 2001. Foresight 4 VCT and Gartmore Private Equity also invested.