Enterprise Ventures (EV), a North of England-based VC house, has made a 3.6x return on the sale of H2O Networks Limited.
The sale brings to an end an investment period which began when EV acquired H2O in September 2006 via its Coalfields Enterprise Fund. This was followed up with a further cash injection in mid-2007.
H2O is a technology company that builds fibre optic networks in the UK’s waste water infrastructure. This means cables can be laid 80% faster than the traditional method of road digging.