WestBridge Capital, a UK-based private equity firm, has held the first close of its WestBridge SME Fund.
The fund will focus on investing up to £5m into UK-based established and profitable SMEs, providing them with growth capital. In addition, the vehicle will back MBOs taking majority or minority stakes in the companies.
The investors in the fund include a number of successful businessmen, who will bring thier contacts and experience in order to accelerate the growth of the backed companies.
The first investment will be into e2train – a provider of performance and talent management systems.