Investee Company – Netik Holdings Ltd (UK)
Investee Company Business – Provides e-business solutions
Type of Financing – Second round
Equity Providers – Advent Venture Partners, Warburg Pincus
Equity Leader (Individual) – James McNaught-Davis (Advent Venture Partners)
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – £10.6 million
Total Deal Value – £10.6 million
Comments – London-based Netik Holdings Ltd, an e-business solutions company has raised £10.6 million in second round funding.
The deal was led by Advent Venture Partners, who invested £8.5 million. They were joined in this round by Warburg Pincus who invested £2.1 million. Netik plans to use the capital to increase profits and finance strategic acquisitions.
Based in London, Advent Venture Partners invests in information technology and healthcare and currently has funds under management of over £475 million.
Founded in 1997, Netik is a global provider of end-to-end e-Business and Straight Through Processing (STP) solutions for the financial services industry. The company now has regional centres in Europe, North America, Latin America and Asia Pacific, as well as local sales and support offices throughout the world and an international network of distributors and business partners.
James McNaught-Davis of Advent Venture Partners, said: “Netik is at an important stage in its development and this financing will enable it to take advantage of the anticipated substantial growth in this market. Advent looks forward to helping Netik achieve its full potential in an exciting market.”