Foresight VCTs boost international expansion at ClubSpark with £2.15 million growth capital investment

Foresight VCTs boost international expansion at ClubSpark with £2.15 million growth capital investment

London, 28 January 2019

Click here to read full announcement.

Foresight Group LLP (“Foresight”) is pleased to announce a £2.15 million growth capital investment into Sportlabs Technology Limited, trading as ClubSpark (“ClubSpark” or the “Company”), the awarding-winning specialist software company serving participants, sports providers, National Governing Bodies and International Federations.

Founded in 2012 by CEO Dave Ward and CTO Nathan Flood, ClubSpark provides a comprehensive software platform which provides easy access to sports and events for participants, simple to use tools for sports providers, whilst giving National Governing Bodies and International Federations insight into participation and activity levels. The software platform allows sports providers to manage all operational activities, including resource booking, membership, CRM, competitions/tournaments, courses, holiday camps, coaching, reporting, compliance, safeguarding and website development.

Since inception, the Company has established itself as the global leader in tennis, serving three of the four Grand Slam nations, as well as the International Tennis Federation. ClubSpark has also secured flagship clients in other sports, including the ECB, England Athletics, British Triathlon and Table Tennis England.

Foresight’s investment will primarily help extend the Company’s international operations, consolidate its position as the de facto standard within tennis and explore new avenues for growth.

Matthew Evans-Young, Investment Manager, Foresight Group, commented: The value and insights that ClubSpark’s platform brings are proven, and we have been impressed by the Company’s achievements to date. ClubSpark has the opportunity to become a truly global organisation, and we are looking forward to working with Dave, Nathan and the rest of the team over the coming years.”

Dave Vibert-Ward, CEO, ClubSpark, commented: We have found in Foresight a team that showed a great understanding of our market and immediately understood our business, our values and our mission to get more people active through the use of technology. Their experience, track record and investment is a vote of confidence in our business model and marks an important milestone as we expand into new markets and geographies.

Advisers on this deal included:

Legal advisers: Shakespeare Martineau

Financial and tax due diligence: Kingston Smith

Commercial due diligence: Luminii Consulting

Technology due diligence: Cloud Origin

Management due diligence: Catalysis Advisory

 

ENDS

 

For more information contact: Ben Thompson, Group Marketing Director Foresight

bthompson@foresightgroup.eu  / 020 3667 8155

 

NOTES FOR EDITORS

Picture attached: [insert details if provided)

About Foresight Group LLP ("Foresight”):

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has some £2.8 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).

Foresight’s Private Equity team, comprising 24 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.  

Foresight was voted ‘Best VCT Investment Manager’ at the 2017 Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards and was a shortlisted finalist for Venture and Growth Capital House of the Year at the 2018 Unquote British Private Equity Awards.  Foresight VCT was recently named Best Generalist VCT at the 2018 Investment Week Tax Efficiency Awards.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Rome, Madrid, Seoul and Sydney.

www.foresightgroup.eu

About ClubSpark

ClubSpark is an award-winning platform that delivers flexible digital tools and apps to give sports providers the power to manage registrations, memberships, resource access, competitions, coaching and more.

Working with more than 7000 coaches and venues across the world, Clubspark helps sports organisations expand the reach of their sport, offering solutions that are designed to increase participation for clubs, coaches, National Governing Bodies and International Federations.

www.clubspark.com/