Investment bank Brown Brothers Harriman has invested $22m in Scivantage, a US-based provider of financial services software, to buy out some of the portfolio company’s early-stage investors.
The investment was made through Brown Brothers Harriman Capital Partners, the bank’s private equity unit.
A further $6m was lent as senior debt by Provident Bank.
Venture capital firm Edison Venture Fund invested $6.7m in Scivantage in January 2007, following an undisclosed amount of follow-on financing from peer Greenlight Private Equity Partners in November 2003.