ECI 9 generates a 3x return on total Fund

Two investments in ninth fund have reached valuations in excess of £1bn

Following the realisation of Avantia in September, we are delighted to announce  the close of ECI’s ninth fund, generating a 3x return and 36% IRR.   

The fund comprised of 15 investments, including two tech unicorns now valued at over £1bn  – Auction Technology Group (ATG)  and Wireless Logic

ECI 9 was a 2010 vintage fund which was invested between September 2010 and September 2014. It attracted strong interest from investors across a wide range of geographies, consisting of 28 leading institutional private equity investors split between the UK, US, continental Europe, and Asia. These investors included pension funds, insurance companies, fund of funds, private banks, endowments, and family offices, many of whom have invested across multiple ECI funds spanning the past 20+ years.

ECI’s fund strategy is to look for growth and resilience, found in specific subsectors which it focuses in on to build strength in depth, to deliver repeatable success. This ninth fund covered a range of these subsectors such as IoT, online marketplaces, SME services, SaaS and travel. The biggest returns in the fund came from leading IoT provider Wireless Logic (6x), online car rental aggregator CarTrawler (6x) and Citation (5x), which provides HR and Employment Law, Health & Safety and ISO Certification solutions to SMEs.

We have a strong track-record of working with our portfolio companies to help them expand internationally and half of the 20 bolt-on investments made across the fund were international, with a strong bias towards North America.

¹  ATG Listed on London Stock Exchange and a constituent of FTSE250 and Wireless Logic as reported in Megabuyte 14th June 2021

“The success of this fund speaks to the strength of the brilliant founders, CEOs and management teams that we partner with, and the ECI team who work with them to unlock growth opportunities together from day one.

“ECI 9 has been another great fund for ECI and has generated impressive returns for our investors and the founders and management teams we worked with. We greatly appreciate our investors’ dedicated support and conviction in our ability to identify growth opportunities and deliver value through our partnerships.”

David Ewing

Managing Partner at ECI

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View ECI's Growth Characteristics 2022
Growth Characteristics 2022

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