The company
Velocity Black, founded in 2014, built a digital concierge service combining technology and human experts to deliver travel, entertainment, shopping and dining for its members around the world.
What we did
Chrystal was one of the early investors. We then raised over £22m for Velocity across its post seed, Series A and Series B rounds, from high net worth individuals and family offices in our network.
The company secured Enterprise Investment Scheme authorisation, so investors who took EIS relief were able to realise their capital gains free of tax.
The outcome
In 2023 Velocity Black was sold to Capital One for a reported US$296m.
What it shows
Backing a company early, and staying with it through several rounds, can align founders and investors over the long run. EIS relief, used properly, materially improves an investor's net return.
Past performance is not a guide to future returns.
If you are a founder raising growth capital, call James Innes on 020 7850 4760 or email james.innes@chrystalcapital.com.