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Blackfinch Ventures leads investment round backing Brooklyn Vendor Assurance

Jesse Lee 6 months ago

Blackfinch Ventures leads investment round backing Brooklyn Vendor Assurance

Blackfinch Ventures has led and completed a £1.8m Seed investment round in Brooklyn Vendor Assurance.

Blackfinch Ventures led a £1.8m seed investment round for Brooklyn Vendor Assurance, with participation from London-based Force Over Mass Capital and other investors.

Blackfinch Ventures targets high-growth opportunities, as well as supporting start-ups, and early stage and growth stage businesses with technological potential. The focus is on disruptive businesses, offering products that address real world needs, with the capability to make an impact in global markets.

Commenting on this investment Dr Reuben Wilcock, ventures director at Blackfinch, said: “Brooklyn’s addition to the Blackfinch Ventures portfolio is reflective not only of Blackfinch’s commitment to investing in innovative technology driven companies that reflect our own environment, social and governance (ESG) values, but also the value that those businesses see in having us as their investment partner and the role that we can play in furthering their growth ambitions.

“Similarly, the total of funds raised is reflective of a real confidence from both new and existing clients in our commitment, as an investment group, to cementing lasting relationships with exciting, disruptive businesses that create products and platforms that address real world needs.”

Commenting on the investment Jesse Lee, CEO and co-founder of Brooklyn Vendor Assurance, said: “We are delighted to have joined the Blackfinch and Force Over Mass portfolios at such an important time in the journey of Brooklyn Vendor Assurance. Our Enterprise Vendor Management platform helps global enterprises govern their supplier contracts and relationships across many areas including environmental impact. Blackfinch has identified the procurement domain as ripe for digital disruption, and the alignment with their ESG mandate made this a perfect fit.“

Investors in the Blackfinch Spring VCT include financial advisors and their retail clients and investors using direct-to-client platforms.

Richard Cook, CEO of Blackfinch, added: “The latest round of investments announced today brings exposure to some of the most exciting, innovative, and forward-thinking tech companies in the country for our customers.

“Each organisation that has received funding is a true reflection of the emphasis that Blackfinch has on working with businesses that are aligned to our environment, social and governance values, and each company has ambitious plans for the future.

“We are looking forward to continuing to provide support to those companies that have received follow-on investment, and to forging strong working relationships with those who run the businesses that are new to the Ventures portfolio.”

Similarly, the total of funds raised is reflective of a real confidence from both new and existing clients in our commitment, as an investment group, to cementing lasting relationships with exciting, disruptive businesses that create products and platforms that address real world needs.

Dr Reuben Wilcock, Ventures Director at Blackfinch Ventures

About Brooklyn Vendor Assurance

Brooklyn Vendor Assurance is the first Enterprise SaaS software platform purpose-built for vendor managers to maximise business value across their 3rd Party Supplier ecosystem. In 2020, our solutions won placement in the Digital Top 50 (per Google, McKinsey & Co., Freshfields, others) and became CIO Magazine 2020 Vendor Management Platform of the Year.

About Blackfinch Group and Blackfinch Spring Venture Capital Trust

Blackfinch is an award-winning investment specialist and trusted provider working in partnership with advisers. Based in Gloucester and employing more than 100 full-time members of staff, it has a heritage dating back 25 years. Its businesses cover tax-efficient solutions, early-stage investing, managed portfolio services, and property financing, and it is entrusted with over £500 million in assets under management and administration.

For more information about Blackfinch, contact: e.holliday@blackfinch.com (01452 717772)

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