Capita is discontinuing its corporate venture capital investment arm, Capita Scaling Partner, as part of a restructuring at the UK business services group, according to people close to the company.
Founded in 2018, Capita Scaling Partner invested in business-to-business tech companies in customer services, artificial intelligence and augmented reality. Portfolio investments include OBRIZUM, a B2B digital learning platform that allows organisations to create and monitor online learning; and WithYouWithMe, a skills-based hiring and workforce management platform. Capita Scaling Partner has 11 portfolio companies listed on its website.
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The winding down of the venture unit comes on the back of financial losses at the parent company. Capita reported a £106.6m loss before tax in its 2023 full-year financial results. Part of its losses stem from costs associated with a cyber-attack in 2023 which accessed the personal data of staff and clients.
GCV contacted Capita for a comment but had not received a reply at the time of publication.
