- Oakley Capital Investments that the Oakley Capital Fund IV had agreed to acquire a majority stake in Seven Miles, partnering with its founders, Tom Schröder and Valentin Schütt.

Seven Miles, based in Germany, was a leading consumer technology company in the gift voucher and B2B gift card sector. Since

In 2019, Seven Miles expected to sell gift solutions in excess of €100m, following very strong growth, Oakley said.

The market for multi-brand gift cards in Germany was expected to grow at over 15% in the coming years, as consumers increasingly value the convenience and flexibility that make gift cards an attractive present for many occasions, it added.

The investment in Seven Miles continued Oakley Capital's successful track record of backing founder managers in consumer technology platforms and in the DACH region.

Oakley Capital Investments indirect contribution through its interest in Fund IV would be approximately £25m and the transaction was expected to complete by end of September 2019.

At 9:21am: [LON:OCI] Oakley Capital Investments Ltd share price was 0p at 225p

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