- Draper Esprit has acquired a 30.77% stake in Elderstreet Holdings, the holding company of Elderstreet Investments, with an option to acquire the balance of the Elderstreet shares in due course.

Elderstreet manages Elderstreet VCT plc which currently has assets in excess of £25 million. Elderstreet provides early stage, development and growth capital for ambitious UK businesses, in most industry sectors with a focus on software and computer services.

In 2014, it won the Investment Company of the Year Awards and was VCT Fund Manager of the Year in 2009 and 2010.

The initial consideration has been satisfied by the issue of 73,667 new ordinary shares which will be subject to an 18 months lock-in (subject to customary exceptions).

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