LinkedIn
YouTube
We first invested in DriveWorks in 2021, to support the company’s international expansion strategy, and to enable it to invest in further product development and capacity. As well as providing growth capital, we also:
- Helped to strengthen the company’s board, by introducing DriveWorks to its Non-Executive Chair, Sharon Baylay-Bell (former-CMO at the BBC and Ted Baker non-exec)
- Provided guidance on setting up an Australian subsidiary, including sharing learnings from our other portfolio businesses that had done the same
- Supported the recruitment of a new CTO and Head of Finance, to help facilitate succession planning
During our three-year investment period, DriveWorks was able to more than double its revenues (reaching €6.5 million in the 2023/24 financial year). And in 2024, it was acquired by Bechtle AG, a €6 billion-revenue technology group, headquartered in Germany — resulting in a positive exit for all parties.
