VCT News
Beringea investment marks an exciting stage of TH_NK's expansion
7 December 2009 - London - TH_NK, the award-winning digital agency, has received £1m of growth capital funding from international venture capital company Beringea. The investment will enable TH_NK to enhance their planning and strategic capabilities. TH_NK will also develop their creative, technology, 'experience design', and online insights and analytics teams to add greater value to their business proposition.
Trevor Hope, Beringea's chief investment officer, will be joining TH_NK's board as a non-executive director to help the company achieve their next phase of expansion, alongside MT Rainey who will continue to chair the board.
Tarek Nseir, TH_NK's Chief Executive said: "Our investment from Beringea will allow us to strengthen our position as a leading digital agency and capitalise on a number of growth opportunities within a challenging economic climate. The investment couldn't have come at a better time, what with the recent appointment of our new MD, Lynne Davidson, and a stream of new business, including LG, Anthropologie and Curtis Brown. We're delighted that Trevor is joining our board and helping TH_NK to expand not just on a national scale, but internationally too."
Trevor Hope commented: "For a young agency, TH_NK has an enviable client list – built upon its reputation for delivering digital solutions that combine excellent creative with cutting-edge technology and an impressive understanding of user experience. This creativity is backed by a strong, ambitious management team with a clear vision for future growth. I am confident that TH_NK are well placed to thrive in the continually evolving digital market place and look forward to working with them."
The funding will come from ProVen VCT one of the Venture Capital Trusts managed by Beringea. In addition to the funding, Beringea will be supporting TH_NK with its digital experience and its network of industry executives, entrepreneurs and thought leaders.
Beringea's ProVen VCTs current offers are a 'D' Share Linked Offer, which offers investors the opportunity to subscribe for new D shares in both ProVen VCT and ProVen Growth & Income VCT (PGI VCT) and ordinary share Top-Up offers –providing the opportunity to invest in the ordinary share classes of all three of the ProVen VCTs (ProVen VCT, PGI VCT and ProVen Health VCT).
In the last few months, TH_NK has been named as one of Europe's fastest-growing digital agencies at the Media Momentum Awards; a 'Top 100' agency by NMA; and has achieved a top spot in the Deloitte Technology Fast 50 for the third year running. As one of just a handful of digital agencies across the UK to make the Top 50, this is a true reflection of their continued growth and success in the digital industry.
About Beringea Ltd
Beringea Ltd. is an international private equity and investment banking firm with offices in London, Detroit, Los Angeles and Shanghai. Beringea is the manager of funds including Proven VCT, ProVen Growth & Income VCT, and Global Rights Fund II, amongst others.
Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen VCT and ProVen Growth & Income are the highest performing VCTs of their launch years, according to www.taxefficientreview.com. In 2006 the Association of Investment Companies named ProVen Growth & Income as its highest performing VCT member.
www.beringea.com / www.provenvcts.com
Beringea Ltd is authorised and regulated by the Financial Services Authority
FSA FRN: 138888