With a new name, Living Bridge hits the market with Fund VI

  • Living Bridge targets around 200 mln pounds for Fund VI
  • Closed Fund V on 360 mln pounds
  • Changed name last year from Isis Equity Partners

It’s not clear if Fund VI officially launched or if it did, when it hit the market. Fiona Dane, investor relations director at Living Bridge, declined to comment.

U.K.-focused Living Bridge was formerly known as Isis Equity Partners, but re-branded last year in light of the terrorist organization whose acronym is ISIS.

“Given ongoing events in Syria and Iraq, it will come as no surprise to you to learn that we have decided to change our name. We are no longer prepared to share it with a terrorist organization,” Managing Partner Wol Kolade said in a statement. Kolade leads the firm.

Living Bridge raised five funds under the Isis brand. It’s most recent vehicle, the 2012 vintage Fund V, closed on 360 million pounds. It closed its fourth fund on 238.5 million pounds in 2007.

Fund V was generating an 11.2 percent internal rate of return as of June 30, 2014, according to performance data from Hamilton Lane included in a Hawaii Employees’ Retirement System investment report.

Living Bridge invests in sectors like business services; consumer markets; energy and environmental; financial services; healthcare and education; and technology, media and communications, according to its website. The firm has invested in more than 100 companies and raised around 1.3 billion pounds in fund capital as of September 2014. 

The firm, formed in 1995, led a 5.5 million-pound funding in software testing services provider Centre4 Testing Limited alongside Invex Capital Partners in March.

Living Bridge, also in March, sold its stake in online bathroom products retailer Luxury for Less to Wolseley for an undisclosed amount. The firm invested 8.5 million pounds in the company in July 2013, according to a statement.