Prova Investments announces partial exit of We Are Digital
Prova Investments has announced a successful partial divestment of its shareholding in We Are Digital following the news of a significant investment by Paris-based IMPACT Partners, one of Europe’s biggest impact private equity funds, making its first UK investment.
We Are Digital is a leading wel-tech business that unlocks access to everyday online skills, resources and training for people who don’t have the help and support to get online or don’t have the access to training opportunities for jobs. The company provides the resources, skills and, in some cases, the equipment needed to get people online.
By being active and hands-on for every learner and service user, We Are Digital is focused on ensuring everyone has access to everyday life chances, better chances with training and support, more day-to-day skills and new life chances for everyone in every community. The company also supplies general advice, monetary guidance and welfare consultancy where needed.
Having initially invested in the company at seed stage, under its previous name of Silver Training, Prova has subsequently supported We Are Digital’s growth and development for almost a decade, including two further rounds of investment.
Impact Partners latest investment follows previous investments into We Are Digital by the likes of Triplepoint, Si2 and Ascension in 2019.
“This is exciting news for We Are Digital and a great success story for Prova Investments,” explained Prova Investments founder Richard Postins. “Alongside our investment, we’ve sat on the board and run the company’s external communications for a number of years – including driving the rebrand of the business.”
“It’s been hands on and we’re very proud of where the company is today. This significant financial investment from Impact Partners will help take We Are Digital to the global stage, and we’re thrilled to continue our equity involvement with the business.
“We have a great relationship with Matt and the team at We Are Digital and we’re looking forward to continuing that into the future.”
Matthew Adam, Founder of We Are Digital commented: “We’d like to thank the team at Prova for their continued support and guidance over the years. We’re delighted that they will continue to support us as we start an exciting new stage of our journey with Impact Partners.”
For more information about Prova Investments, or the latest additions to its growing portfolio of early-stage businesses operating at the forefront of cleantech, envirotec and the circular economy, click here.