Investec Private Bank provides £8m loan to DFJ Espirit
Investec Private Bank has provided an £8.2m loan to Encore Ventures, a division of venture firm DFJ Espirit.
The two year loan facility financed all the management fees, set-up costs and legal fees of Encore 1, Encore Ventures’ first fund, which was established to manage the portfolio acquired in October 2009 from 3i for £170m.
DFJ Espirit’s Encore 1 fund is backed by Coller Capital and HarbourVest Partners and includes European technology and healthcare-centric companies Icera Semiconductors, Light Blue Optics, ApaTech, The Cloud, CamSemi and FastBooking.
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