Draper Esprit acquires two Seedcamp funds

The deal sees Draper Esprit acquire 2007-vintage Seedcamp I and 2010-vintage Seedcamp II, which collectively hold stakes in a number of technology businesses.

The deal includes a stake in Transferwise, a provider of international money transfer services that raised $58m in a series-C round in January 2015. It also comes less than a year after Draper Esprit acquired a 30.77% stake in Elderstreet Holdings, which manages software- and computer-services-focused Elderstreet Venture Capital Trust.

According to a statement, the Seedcamp portfolio most recently reported a net asset value of £23.5m and the two vehicles have returned a combined 4x capital to investors.

The acquirer intends to provide further funding for companies in both funds following the transaction.

Draper Esprit has a historical relationship with Seedcamp and, through its seed-focused fund-of-funds arm, recently committed capital to the firm's fourth fund.

Companies
The transaction sees Draper Esprit acquire Seedcamp's stakes in Transferwise, Codacy, Edited, Erply, Fishbrain, Codility, Winnow, Codeship and Try.com.

People
Draper Esprit – Simon Cook (CEO).
Seedcamp – Carlos Eduardo Espinal (managing partner); Reshma Sohoni (co-founder, managing partner).

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