The first exit has been made from the Jenson SEIS and EIS Fund 1, with the purchase of London based user-generated content business Twizoo by Skyscanner.
The Jenson SEIS and EIS Fund 1 is a joint venture between Jenson Funding Partners and the fund manager Thompson Taraz.
Jenson Solutions has over 25 partners throughout the UK and provides services to help companies start-up, raise funding, grow organically and by acquisition; restructure if required; and ultimately prepare for exit. The first Jenson Seed EIS Fund raised over £12m and invested in over 80 companies.
The six-strong Twizoo team, founded by Madeline Parra and John Talbott, has been incorporated into Skyscanner’s existing staff.
Madeline Parra, CEO and cofounder of Twizoo said: “Skyscanner is built by travellers, for travellers. Their emphasis on authenticity and transparency reflect Twizoo’s own values. Travel is inherently social and we’re excited to work with the Skyscanner team to integrate our technology into their world-class travel search products, giving travellers invaluable insight through user generated content shared on social media.”
Sarah Barber, CEO, Jenson Funding Partners added: “We are delighted that Twizoo has been acquired by Skyscanner and that Twizoo’s technology will be integrating within the Skyscanner platform.
“This is the first exit for our SEIS Fund and we are pleased to be able to deliver a very good return to our investors. This acquisition by Skyscanner demonstrates that SEIS can be used to provide exciting new innovative companies with the opportunity to launch and grow their businesses.”