The British Business Bank’s South West Investment Fund has announced a £1.15 million investment in strategic malicious risk advisors, CHC Insurance Services Limited (“CHC”), through fund manager Maven Capital Partners (“Maven”) Incumbent investor Committed Capital, and a high-net-worth angel investor invested £1.55m alongside Maven.
Founded in September 2017, CHC is an insurance intermediary and risk advisor. It offers broking services in the malicious risks environment, and its wholly-owned subsidiary, Samphire Risk, is a managing general agent for such risks. The business has a global footprint serving clients in five continents, including challenging and hostile environments. Clients include national governments, multi-national corporations, charities and NGOs, and high-profile individuals.
The business offers clients comprehensive advice and guidance in understanding, managing and transferring their malicious risks. CHC supports its clients worldwide in managing issues such as political violence, terrorism, sabotage, kidnap, extortion, maritime piracy, reputational crises, evacuation and cybercrime.
The equity finance will allow CHC to invest in its technology and infrastructure and expand its frontline team to further grow the business and offer a greater service to more clients around the world.
Managing Director of CHC Global, Julian Vero, said:
"As an FCA regulated Lloyd’s of London insurance broker and Lloyd’s cover holder through our subsidiary Samphire Risk, we are proud of our foundation in, and connection to, Bristol. Investment from SWIF/Maven represents an exciting next step in our development and maturity as a business. The funding and support from our new investors allows CHC to strengthen our core and puts us in a position to execute upon the numerous opportunities that are evolving in our target space.”
Rafi Khan, Investment Manager at Maven, said:
"CHC is a high growth business with a highly scalable product. Given the current volatile risk environment, the company is well placed to support high-profile clients across various sectors in managing the malicious risk exposures. The business has a strong leadership team, and we are excited to see them continue as they work towards their exciting growth ambitions."
Lizzy Upton, Senior Investment Manager, British Business Bank, said:
“CHC is a great example of a South West business delivering specialist expertise on a global scale. The South West Investment Fund is designed to support ambitious businesses like CHC, helping them to scale, innovate, and extend their reach. We’re delighted to back their growth as they continue to expand their services and strengthen their market position.”
The South West Investment Fund offers a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. Maven manages the equity side of the fund in the north of the region and can support earlier stage and established businesses with funding between £150,000 and £5 million.
Through the fund, Maven has backed a number of businesses to date including, Microsoft adoption specialist, Changing Social, sustainable packaging innovator, Kelpi, global wireless solutions provider, Blu Wireless, and healthcare buy and build operator, Covestus.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West.
https://www.british-business-bank.co.uk/