UK’s Beringea to invest $102.8 million in British businesses

UK-based venture capital firm Beringea’s transatlantic venture capital fund intends to invest 80 million pounds ($102.8 million) in UK businesses, with $64.2 million set aside for the regions.

Beringea said that the significant $11.5 million commitment round in UK’s AccessPay led by the company and including U.S. backers True Ventures and Route 66, is a sign of additional transactions to come.

The company will invest a large amount of growth commitment in the next 2 to 3 years by doing more AccessPay-style transactions. Over the next two years, it will invest $64.2 million in five transactions in Series A- and Series B-style rounds in the regions.

The company may infuse approximately 50 percent of its available UK funds into the regions, and the other 50 percent heading into London-based companies depending on the opportunities that arise.