UK-based private equity and venture capital firm Draper Esprit PLC plans to acquire interests in two Earlybird funds, run by German investment company Earlybird Digital West, to boost its strategic partnership.
In connection with the deal, Draper Espirit will secure 100 million pounds ($128.6 million) via a share issue at a price of $6.81 each.
With the proposed capital, the company will fund the acquisition of the two Earlybird funds and also finance further investment opportunities.
Draper Esprit has agreed to acquire 27 percent stake in Earlybird GmbH & Co Beteiligungs-KG IV for $80.9 million and a 5 percent stake in Digital East Fund 2013 SCA SICAR for $20 million.