SEP, a growth equity and venture capital investor in technology companies across the UK, announced last month that it was raising a new fund and that it had already secured commitments of £185 million.

The new fund, SEP IV, will provide growth equity and venture capital to businesses in the information technology, energy and health care sectors.

The announcement of the backing continues the relationship between the two firms as LDC has invested in previous SEP funds.

The deal is the second major investment to be announced by LDC recently. In August, the firm invested £50 million in the second fund of oil and gas services investor Epi-V, which is an independent fund that invests £2 to 10 million of expansion capital in oil and gas services companies.

Commenting about the SEP deal, LDC director John Garner says, ‘With our investment in this latest fund, LDC is embarking on a new chapter in what has been a long-standing partnership with SEP.

‘Through this alliance, we are delighted to play a further role in helping to grow companies with world-class potential, to support exceptional entrepreneurial management teams, and enable them to exploit new market opportunities.’

LDC has a current portfolio of more than 60 businesses valued in excess of £2 billion.