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Beringea LLC
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Beringea LLP
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Jun 05

Beringea launches ProVen Legacy plc to help investors benefit from inheritance tax relief and announces its first two loans

2017 BERINGEA NEWS

ProVen Legacy plc has completed deals with healthcare marketing agency Cogora and fintech company Celoxica

Growth capital investor Beringea has launched a new lending company, ProVen Legacy plc (“ProVen Legacy”), and closed its first two deals. Healthcare media and marketing firm Cogora and fintech company Celoxica have received £500k and £250k loans respectively to support them in their next stage of growth. Both companies are existing investments of Beringea’s VCT funds; ProVen VCT and ProVen Growth & Income VCT.

ProVen Legacy is designed to help investors mitigate inheritance tax (IHT) and preserve their capital. Investors should be able to benefit from up to 100% tax relief from IHT on the value of their ProVen Legacy shares, provided that they have been held for at least two years and at the time of death. This strategy is designed to meet the conditions of Business Property Relief, a tax incentive established by the government to encourage investment into trading businesses. The investments into ProVen Legacy will be used to support growing companies across a range of industries as they enter the later stages of their scaling journeys, offering loans of up to £5m.


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May 16

Beringea has sold a majority stake in long term investment SPC

BERINGEA NEWS

Beringea have announced that it has sold a majority stake in long term investment SPC international – a global IT hardware support company. Beringea initially invested in the company in 2003, and made two follow on investments, providing a total of just under £2.7m over five years. SPC has revenues of c.£20m and operates in five countries. Beringea will retain a 5% stake in the business going forward.


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May 16

Edtech startup secures £4.5m funding round to fire up expansion

BERINGEA NEWS

·         Firefly Learning achieves largest early stage fundraising in Edtech sector

·         Product already used by 480 schools in 32 countries

·         Business founded by two entrepreneurs who nurtured their boyhood startup

Firefly Learning, an Edtech business dreamt up by two London school boys to help them revise for exams, has secured the biggest series A fundraising ever seen in the UK Edtech sector. The online tool, which can be used by teachers, students and parents, has raised £4.5 million from BGF Ventures and Beringea*. BGF Ventures is the leading investor, contributing £3 million.


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Mar 28

Beringea portfolio company D3O’s gel used by NFL, U.S. & UK armed forces

2017 PORTFOLIO NEWS UK US

CNN: ‘Orange goo’ is used in armor for soldiers and football players

(CNN)Could this slimy, brightly colored orange goo be a real-life version of the “Flubber” from the 1997 film starring Robin Williams?  Not quite… But while it may look like it’s made for children, in reality it is revolutionizing the way soldiers are protected, and could radically reduce the number of head trauma injuries in football.

It’s a gel developed by UK-company D3O that acts as both a liquid and a solid. When handled slowly the goo is soft and flexible but the moment it receives an impact, it hardens. It’s all thanks to the gel’s shock-absorbing properties.  Read more.

Feb 23

beringea portfolio company Blis Integrates World’s Largest Beacon Network, Empowering Brands To Improve Attribution and Targeting

2017 PORTFOLIO NEWS US and UK

Blis, the global pioneer in advanced location data technology, is partnering with Unacast, the world’s largest network of proximity data and the creators of the Real World Graph™, to provide brands greater understanding of who consumers are and how they behave both on- and offline along the path to purchase. These insights will improve attribution and empower brands to successfully target consumers with the most accurate and detailed location data available on the market.


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Feb 14

Perfect Channel takes £2 million from Beringea and UIL

2017 BERINGEA NEWS

London start-up targets accelerated product innovation to continue transformation of international trading

Perfect Channel, a leader in marketplace transformation technology has secured £2m in funding from its long-term investor Beringea, and new partner UIL Limited, an investment company jointly managed by ICM Limited and ICM Investment Management Limited. Perfect Channel – which has built an auction and trading platform for companies operating marketplaces in commodities and financial assets – will use the funding to support continued sales growth and product development over the coming year, following the appointment of industry veteran Jim Leeds as the company’s new CTO in January 2017.


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Jan 24

Beringea boosts Series C round for Whistle Sports with $4.6 million investment

2017 BERINGEA NEWS UK

Beringea joins TEGNA Inc., NBC Sports Ventures, Sky, and Emil Capital, taking total value of round to $27.5 million

London, 23 January 2017 — Venture and growth investor Beringea has put $4.6 million into Whistle Sports, a digital entertainment media company. The investment is part of Whistle Sports’ recently-concluded Series C, with Beringea joining leading names in sports broadcasting and digital media in a round worth $27.5 million in total. Other investors in the round include TEGNA Inc., NBC Sports Ventures, Sky, and Emil Capital.


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Jan 24

Chess Dynamics announce AUDS counter drone system achieves TRL-9 status

2017 PORTFOLIO NEWS

Portfolio company Chess Dynamics has announced its AUDS counter-UAS defence system – field proven to detect, track and defeat malicious and errant unmanned aircraft systems (UAS) or drones – is the first fully integrated system worldwide to achieve TRL-9 status. This follows the successful mission deployment of the AUDS system with United States Forces.

For more information please CLICK HERE

Jan 16

Beringea invests in personalisation site for children’s products, My 1st Years

2017 BERINGEA NEWS UK

The company behind the dressing gown HRH Prince George wore when meeting President Obama has secured a £5m growth funding round

London, 16 January 2017: My 1st Years, the children’s gifts personalisation site, has secured £5m in growth funding led by venture and growth investor Beringea, and supported with funds managed by Hargreave Hale. The investment will be used to drive developments in operations, marketing and international expansion into the US.

My 1st Years is an ecommerce company that provides personalised gifts for babies and children. The company was founded by Daniel Price and Jonny Sitton in 2009, and has since become a favourite with celebrities including Dannii Minogue and Elton John as well as the royals. The business previously secured £2m in funding from High Net Worth individuals, including Lord David Alliance, co-founder of Coats Viyella and co-owner of N Brown Group which includes Jacamo and Simply Be in its catalogue. This brings the total amount raised by My 1st Years so far to £7m.


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