London Technology Fund makes its first exit
London’s specialist investor in new technology companies, the London Technology Fund (LTF) has completed a partial exit from its investment in Dynamic IT Management Services Ltd, a company which has developed specialist software for the foreign exchange market. LTF has achieved an IRR of over 20 percent, with the potential for an additional return subject to the development of the company.
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John Jessop, chairman of Dynamic IT, said: “LTF’s investment and support has enabled us to reach a new stage in our development. We now have a range of new products, a stronger board and a diverse shareholder base.”
David McMeekin, chairman of LTF, added: “We are delighted to have been able to help the company reach this new stage of development and look forward to seeing the management team continuing to grow the company in the future. This was the second investment made by LTF, which to date has completed 12 investments in six companies, acting as a key investor to help secure commitments of over £14m of equity funding for London-based high technology companies.’’
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