Documetric secures £2M investment from Capital for Enterprise Fund

Investment

Documetric Ltd has raised £2 million from Maven Capital Partners, joint manager of the UK government’s Capital for Enterprise Fund, to develop its business process outsourcing services.

The £75 million Capital for Enterprise Fund is a government-backed initiative launched earlier this year to help small and medium size enterprises gain access to the financial support required to bridge the funding gap caused by the credit crisis.

In April 2009, it was announced that £60 million from the fund would be allocated to two separate £30 million funds, one of which is managed by Maven.

Richard Arden, Finance Director at Documetric, said, “This investment will facilitate further organic growth by Documetric and is an attractive alternative to private equity. The efficient delivery of our outsourcing services is key to generating significant savings to our clients, and we have a significant pipeline that has partly been driven by clients looking to rapidly cut costs in their operations.”