OCI commits EUR 30m to Oakley PROfounders III
15 December 2022
Oakley Capital Investments Limited
OCI commits €30 million to Oakley Capital PROfounders Fund III
Oakley Capital Investments Limited1 ("OCI") is pleased to announce it has committed €30 million to Oakley Capital PROfounders Fund III ("PROfounders III"), a venture capital fund focused on investments in entrepreneur-led, private businesses across Europe and part of the Oakley Capital2 ("Oakley") family of funds.
Reflecting Oakley's entrepreneurial ethos and investment strategy, PROfounders III will continue its proven investment strategy, leveraging its unique origination network to find attractive investment opportunities, and backing business models that use technology to improve and transform customer experiences.
Part of the Oakley Capital Group, which invests across the life-cycle of entrepreneurial businesses, PROfounders Capital has backed over 50 companies to date, many of which have gone on to become unicorns, or billion-dollar revenue companies. They include tourist activity platform Getyourguide, Finnish mobile games developer Small Giant Games and mobile software platform Unity.
OCI's commitment to PROfounders III takes its total outstanding commitments to the Oakley Funds to c.£900 million. This will be deployed into new investments over the next five years. OCI's total liquidity as at 15 December is £208 million, comprising £108 million of cash on the balance sheet, and a £100 million undrawn credit facility.
Caroline Foulger, Chair of Oakley Capital Investments Limited, commented:
"We're excited to make a commitment to Oakley Capital PROfounders Fund III, continuing our strategy of investing in the Oakley Capital Private Equity Funds. PROfounders' focus on early-stage companies complements our existing, underlying portfolio of lower and mid-market businesses, while the Fund shares Oakley's focus on backing disruptive, tech-enabled business models led by ambitious entrepreneurs. OCI has consistently delivered strong returns for our investors and we are confident that investing behind PROfounders III will help us sustain this track record."
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Greenbrook Communications Limited
+44 20 7952 2000
Rob White / Michael Russell
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
LEI Number: 213800KW6MZUK12CQ815
1 About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds.
A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and do not form part of, this announcement.
2 Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.
The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV, Oakley Capital Origin Fund and Oakley Capital Private Equity V are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Oakley family of funds also includes PROfounders funds, which are venture capital funds focused on investments in entrepreneur-led, private businesses across Europe.
Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore, the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.
This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Accordingly the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.