4 Dec 2019 17:53
4 December 2019
Triple Point VCT 2011 plc
(the "Company")
INVESTMENT UPDATE
The Board of Triple Point VCT 2011 is pleased to announce that the Venture Share class (known as The Venture Fund) has completed its seventh qualifying investment.
An investment was made into Vyne, a payments business that uses Open Banking APIs (application programming interfaces) to transfer money directly from the bank accounts of consumers to the bank accounts of the online merchants they are purchasing items or services from, bypassing the debit/credit card network and the fees applied by each intermediary. Triple Point led the £675,000 round and were joined by Seedcamp and some of the early investors into Revolut.
The investments are in line with the Company's investment criteria and risk and return profile.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP (Investment Manager) | Tel: 020 7201 8989 |
Belinda Thomas Harry Penberthy Daniel Cardenas-Clark Ian McLennan |
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The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/.
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.