First published in Cleantech magazine, February 2011. Copyright Cleantech Investor 2011
Fund: Next Wave Partners – second fund
Managers: Next Wave Partners
Stage: Final closing
SME-focused private equity house Next Wave Partners has called time on fundraising for its second fund on £27 million, exceeding its initial target and bringing total funds under management for the company to £51 million.
Fundraising for the vehicle commenced in September 2010 and attracted a pool of backers that included institutional investors, family offices and high net worth individuals.
“The success of this fundraising reflects the strong performance of our portfolio, their management and employees, and the added value our team bring to each investment we make,” said Next Wave’s partner Stephen Walls.
The fund will invest between £2-10 million in small companies that are active in the business, consumer and environmental service sectors. Next Wave invests mainly in Northern Europe and will be using a structured parallel partnership model to invest the capital from its recently-closed vehicle alongside the resources from its debut fund, which closed on £24 million in 2007.
Next Wave’s investment portfolio to date includes market research firm Future Thinking (formerly known as the Oxford Research Agency), property and business support service provider Chapco, sustainable packaging manufacturer Petainer, and thermal gas conversion company ITI Energy.
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