UK private equity investor Pelican Capital is celebrating a roughly 6.5x return through the exit of parking technology provider YourParkingSpace.
Pelican invested £5m in the company in the teeth of the coronavirus pandemic, when the business was hailing opportunity from workers returning from Covid lockdowns.
Pelican said YourParkingSpace had grown 125% in the past 12 months alone. The company provides an online marketplace for parking spaces, driveways and garages for rent throughout the UK.
The private equity firm provides funding to businesses with management teams needing up to £25m of equity funding to accelerate growth.
Read more: Alt Assets
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