Deals round-up: Kennet develops new Aspective

Kennet Capital, a European venture capital fund focused on information technology, has announced an investment of GBP3.2 million to launch Aspective, an enterprise ASP (application service provider) which aims to deliver integrated front office and e-commerce services to businesses across Europe. The technology is designed to provide rapid access to market leading applications such as BroadVision, Siebel and Lotus Notes.

Aspective has been formed through the reconfiguration of two divisions of Ives Group, an established IT solutions company, which will provide core technical and consultancy expertise. Kennet has invested GBP2 million in the transaction with additional funding of GBP1 million from 3i – which originally invested in Ives Group in 1989 – as well as from a number of private investors.