North East Technology Fund scores 2.9x on Route Monkey exit

The sale is the vehicle's seventh exit in six years and brings the total returns generated by the fund since its launch in 2010 to £8.6m.

North East Technology Fund invests in tech companies based in, or are willing to relocate to, North East England. The vehicle provides equity or debt and currently manages £25m in assets.

Previous investment
The fund led a £500,000 series-B round for Route Monkey in November 2011. Northern IT Research Fund also invested in the business.

Company
Route Monkey is headquartered in Gateshead, Scotland, with offices in Amsterdam. The company develops route-optimisation software for vans and trucks, focusing on cost-saving and efficiencies.

People
IP Group – Ian Wilson (senior investment manager); Duncan Lowery (fund manager).
Route Monkey – Collin Ferguson (founder, CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Technology
• UK / Ireland
• United Kingdom