Growth Intelligence secures £1.5m venture capital debt funding from Shard Credit Partners

Growth Intelligence secures £1.5m venture capital debt funding from Shard Credit Partners

Growth Intelligence has secured £1.5m in funding from Shard Credit Partners through its UK tech-focused venture debt fund. This is the third investment made by Shard Credit Partners’ new fund and the first since its first successful closing announced in June 2022.

Growth Intelligence helps B2B marketers, who have struggled to accurately and completely define their audiences, run more effective and creative digital campaigns. With the world’s richest SMB data, Growth Intelligence enables blue chip marketers, global customers like American Express and Vodafone, to run ABM at scale for the first time.

The company has won numerous awards and received support from Innovate UK, the UK’s innovation agency. Growth Intelligence has grown rapidly in recent years and delivered a 100% year-over-year revenue increase for 2021-22. Funds raised will be used to support the expansion of the sales team, product development and expansion into new markets planned for the coming year.

The investment is in line with Shard Credit Partners’ strategy to target borrowers with recurring annual revenues of at least £2.0m, operating in the B2B SaaS and fintech sectors and benefiting from long-term client contracts . Its goal is to provide flexible venture capital to support sales growth, increasing spending on marketing initiatives. Previous investments include PassFort, which generated a total gross IRR of 249.2% in just six months (multiple of 1.8x on invested capital) and Rezatec.

Venture capital debt is becoming increasingly popular with high-growth technology companies around the world in recent years. The asset class is highly developed in the United States, having positively followed the strong growth of the venture capital market over the past two decades. The subprime lending market is in its infancy in the UK and remains a materially underserved area, which has created an opportunity for innovative private credit managers to raise dedicated technology venture capital debt funds. .

Market demand for venture capital debt in the UK is driven by the very strong growth of the technology venture capital industry over the past decade, which now includes around 13,000 post-Series A technology companies. represents a significant market opportunity for specialist UK tech venture debt funds, such as the one launched by Shard Credit Partners Limited.

William Chappel, Head of Venture Debt for Shard Credit Partners Limited, said: “We are very pleased to provide financial support to Growth Intelligence. We have been looking to work with this company for some time now and are delighted to make this investment. Growth Intelligence has an extremely attractive offering, and we look forward to working closely with Tom, James and the entire team as the business continues to grow. This is a great addition to the Shard Credit Partners UK Tech focused venture capital debt fund.

Tom Gatten, CEO of Growth Intelligence, said: “Growth Intelligence’s goal is to solidify its position as the only platform delivering account-based marketing at scale, in the US and UK. . covid, but most marketers struggle to confidently define their KPI and total addressable market, resulting in high digital ad spend, slow growth, and low conversions. We’re here to solve this problem and transform B2B marketing by enabling large and midsize businesses to create, scale, and launch account-based marketing programs at scale. This latest round of funding will help Growth Intelligence invest in our own commercial team and become a global account-based marketing champion and we are delighted to have received this venture capital debt from Shard Credit Partners.

Alastair Brown, Managing Director of Shard Credit Partners, said: “Our investment in Growth Intelligence marks the third investment in our new venture debt strategy. The investment team, led by Will Chappel, has a strong pipeline of opportunities and we expect the pace of rollout to continue through the summer months, supporting positive fundraising momentum going forward. subsequent fund closes through the end of 2022.”

Shard Credit Partners Limited is currently in advanced talks with several UK and international institutional investors regarding participation in the fund’s subsequent close throughout the summer of 2022. The target fund size at final close is £75m , with a hard cap of £100 million. , by June 2023.

Shard Credit Partners Limited places a strong emphasis on ESG in all of its private credit investments and has always been a strong supporter of women entrepreneurs and companies with female leadership, ownership and senior management significant. As many as 80% of the companies it invests in have female board representation and 60% have mixed ownership, a direct result of Shard Credit Partners Limited’s implementation of ESG clauses and ESG margin ratchets in its loan agreements and investment documentation as standard.

Legal advice for Shard Credit Partners was provided by Orrick LLP, led by partner Scott Morrison and supported by Hridi Chowdhury.

Comments are closed.