The Capital Fund, a VC firm focused on Greater London, has sold software company Solcara for £4.5m to ArgentVive, an AIM-listed e-commerce business established in September 2007.
Solcara was founded in 2001 and provides information management software for more than 130 blue chip clients including De Beers, VISA and Thomas Cook in the private sector, and The UK’s Foreign & Commonwealth Office and the Metropolitan Police Service in the public sector.
The Capital Fund – which manages a £50m fund – backed the business to the amount of £250,000 in July 2003.
Solcara’s founder, Ray Jackson, said: “The Capital Fund’s investment came at a very important time in our commercial development. It enabled us to solidify the business and bring to market our four leading software products – Crisis Control Centre, Communications Centre, SolSearch and Know How. We were able to invest in technical development of the products and put in the place the sales and marketing expertise needed to launch them successfully.”
Jackson has been made managing director of ArgentVive and chairman of Solcara following the deal.