Harbert European Growth Capital celebrates 13 new investments in 2016
Harbert European Growth Capital (HEGC) closed 13 new investments during 2016, committing approximately €60 million in capital towards funding entrepreneurial businesses, with our latest portfolio company representing the 45th investment from our first fund.
At the same time we continue to support our existing portfolio companies with follow-on capital and new relationships as they grow. Each year we invite a number of our portfolio companies, investors and corporates in the technology ecosystem to join us at our portfolio gathering, which took place in September in London, and we thank everybody who attended and contributed to the event.
A special mention goes to George Coelho and Hal Reisiger of Cosworth who sat down for an informal discussion about the challenges Hal had as CEO in restructuring a high performance technology company with a rich heritage: Cosworth ranks second behind Ferrari as the Formula One engine provider in list of all-time victories. The story of Cosworth serves as a reminder that innovation restlessly marches forward and success over the longer term requires a clear mission and mastering technological reinvention in anticipation of tomorrows needs.
Whilst we consider 2016 a successful year for our investment strategy, especially given a strong M&A market that has produced a number of successful exits, the adage of Henry Kissinger somewhat rings true in that “each success only buys an admission ticket to a more difficult problem”, and we continue to seek fresh opportunities to deploy capital during 2017.