Scaleup programmes
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Beringea [2022]
Finance and Risk Capital
Impact for scaleups
39
UK companies backed
26%
Follow-on investments
26%
Investments outside of London
37
Growth-stage investments
Key sectors
The firm invests in the UK, EU and USA, focusing on healthcare, cleantech, consumer, media, business services and technology. In the UK and EU, its typical initial investments are between £1-10m into companies with at least £1m turnover, tending to lead Series A or Series B rounds with further funding available for follow-on investments. Beringea manages more than $700m in funds in the UK and the US. In the UK, Beringea manages three VCTs, including ProVen VCT and ProVen Growth and Income VCT. It is also a co-manager of the Michigan Growth Capital Partners Funds in the USA.
Between January 2015 to June 2022 Beringea participated in 53 fundraisings, of which 14 were follow-on investments. Almost all (95%) were growth stage investments at the time of fundraising.
Current scaleups in its portfolio include the locum GP platform Lantum, psychometric test developers Arctic Shores, and fashion styling service Thread. The average turnover of companies supported by Beringea in the period between January 2015 to June 2022 was £18.1m and the average number of employees was 79.
The firm runs its own Scaleup Academy, an annual programme of events and training to help the leadership teams of its portfolio companies overcome barriers to scale, and emphasises its capabilities in assisting the transatlantic expansion strategies of its portfolio companies.
It has also been a leading figure in the creation of an industry initiative – ESG_VC – to support early-stage companies to measure, monitor and maximise their performance against key ESG metrics. The firm has been accredited as a Level 2 firm in the Diversity VC Standard, recognising it as developing and adopting best practice for diversity and inclusion throughout its operations as a VC firm. Currently, 42 per cent of Beringea’s UK investment team are women, as well as 40 per cent of its UK investment committee.
