Calculus Capital portfolio company ActiveOps has completed a successful Initial Public Offering on the Alternative Investment Market, generating an impressive 6x return for Calculus EIS investors. ActiveOps has placed 45 million shares with institutional investors, raising gross proceeds of £76 million for selling shareholders, including Calculus Capital. The placing price of 168 pence values the company at £120 million.

Richard Moore, Co-Head of Investments at Calculus Capital, says: “We are delighted to deliver this result to our investors. The company and its management have performed exceptionally well during our investment period, winning multiple new customers, enhancing the technology platform and expanding into new territories. The IPO is an important milestone that will enhance the company’s profile and reputation. We are delighted ActiveOps is now a public company and remain a supportive investor as the company embarks on its next stage of growth.”

Richard Jeffery, CEO of ActiveOps, says: “The investment from Calculus in 2014 was a key step in enabling ActiveOps to become the international business that it is today. Their funding and Calculus’s participation on the ActiveOps board has been central to our success, growing to having a client base of approximately 80 blue-chip organisations in more than 40 countries around the world, delivering annual revenues last year of £20 million.”


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Source: Private Equity Wire