LONDON, UK: The Board of Octopus Titan VCT plc announced that Semafone Ltd has been acquired by Livingbridge.
The exit represents an 8.5x return on Octopus Titan VCT plc’s initial investment, and a 7.5x return on the total investment, representing an IRR of 25%.
The resulting cash proceeds attributable to Titan are not materially different from the value at which Titan currently holds its investment in Semafone.
Semafone provides software to contact centres so they can collect personal data securely over various communication channels, including telephone and chat. Titan first invested in 2010 and participated in two further rounds of investment. Cumulatively, Titan invested £3.59m in Semafone.
Livingbridge is a mid-market private equity firm launched in 1995. Headquartered in London, the firm also has offices in, Melbourne, Australia and Boston, US.