Better Capital raises £185.6m

The fundraising is a top-up of the second fund, which raised £170m upon its launch in 2012. Total fundraising for the vehicle now stands at £355.6m, making the fund the largest raised by Better Capital to date. 

Following the fundraise, shares in the Better Capital 2012 Cell will have a net asset value of 102.9p per share.

Documents filed after the firm's EGM on 29 July show that the investor had set a limit of £250m on the share issuance. Though £250m was the fund's hard-cap, with draw-down options exercised on day one due to the fund's structure as a distributing vehicle, a fundraise of £100-250m was targeted by the investor, a spokesperson for Better Capital confirmed.

Numis Securities acted as the sponsor, broker and global coordinator of the fundraising.

DLA Piper also advised the investor.

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• Topics
• Funds
• UK / Ireland
• Better Capital LLP