IQ Capital hits £42m for second fund

Early-stage investor IQ Capital has raised ТЃ42m for its IQ Capital Fund 2.

The fund is classed as an enhanced enterprise capital fund, whereby public and private money is combined to support small businesses.

Investors
The vehicle received £25m from the British Business Bank and a further £17m from private investors.

Investments
Following the commitment from the British Business Bank, the newly raised vehicle has increased its investment limit from £2m to £5m.

The fund will seek investments in the technology and B2B sectors. It will invest in partnership with IQ Angel, an angel investor.

People
Max Bautin is partner at IQ Capital. Keith Morgan is CEO of the British Business Bank.

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