New profitable exit for ProVen VCTs: B2B technology company scaling internationally
In March 2026, the ProVen VCTs announced the profitable exit of AccessPay, a fast-growing B2B technology company which provides bank integration and payment automation software for finance teams. Terms of the transaction were not disclosed.
Global private equity firm Accel-KKR acquired ProVen’s stake in AccessPay as part of a majority investment to secure a controlling interest in the financial technology company.
The ProVen VCTs’ most notable previous exits include the sale of jewellery brand Monica Vinader to private equity firm Bridgepoint for a 13.3x return on cost, and leading food supplier Lupa Foods to Nordic group Geia Food for a 5.2x return. In the five years to August 2025, the VCTs achieved full and partial exits generating proceeds of £104.2 million against a cost of £67.9 million. Past performance is not a guide to the future.
Why did the ProVen VCTs invest in AccessPay? How did the VCTs’ manager Beringea help the business grow? How might you gain exposure to similar companies through the ProVen VCTs?
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. VCT investments are high risk and you could lose the money you invest.
What does AccessPay do?
Founded in 2012, AccessPay aims to simplify a business’s financial management by integrating all its banking and payment operations into one single user interface, and automating the flow of payment and financial data. It connects an organisation’s back-office systems (such as ERPs, payroll software and treasury management systems) directly to their banks and global payment networks. Its software-as-a-service also includes fraud and error prevention, and offers a centralised database with searchable transaction logs, to provide audit-readiness and meet compliance standards.
Why did the ProVen VCTs invest and how did they help AccessPay grow?
ProVen VCT (PVN) and ProVen Growth & Income VCT (PGI) are the longest-standing VCTs with a focus on growth investing. Their manager Beringea has a track record of successfully backing consumer brands and technology companies.
Beringea operates in both the UK and the US, and uses this dual base to provide scalable companies like AccessPay with the network and on-the-ground support to expand on both sides of the Atlantic.
The ProVen VCTs first invested in AccessPay in 2019, leading a £9 million funding round alongside Silicon Valley-based True Ventures and Route 66 Ventures.
This initial investment was aimed to help grow the company’s sales, marketing and engineering functions, and to continue development of its platform. The ProVen VCTs also provided further funding in 2024 – participating in a £24 million strategic funding round to help the company take on more complex and global clients. AccessPay tripled the size of its customer base during the ProVen VCTs’ investment and expanded substantially in the US.
“The ProVen VCTs’ investment and support have been difference makers for us. Emma [Biasiolo, Investment Director at Beringea] and the team worked closely alongside us across two funding rounds, as we scaled the business to more than 1,000 customers. I’m grateful to the ProVen VCTs for their sustained commitment to AccessPay.”
How might you invest in similar companies?
The ProVen VCTs are currently open for investment – the deadline is 30 September for investment in the 2026/27 tax year.
The two VCTs have combined net assets of £336.3 million (November 2025) and give investors exposure to a portfolio of around 55 companies. The bias is towards consumer & e-commerce, SaaS and business services.
In the 10 years to March 2026, PVN and PGI have produced a NAV total return (including dividends) of 41.1% and 24.8% respectively. They target dividends of 5% of NAV – variable and not guaranteed. Over the five years to March 2026, returns were 8.9% and 3.9% respectively. Past performance is not a guide to the future.
See performance of ProVen VCTs
NAV and cumulative dividends per share over five years (p)
Source: Morningstar. Performance figures are calculated net of fees, on a NAV to NAV basis. Past performance is no guide to the future. Dividends are variable and not guaranteed. The bar chart shows net asset value and cumulative dividends per share for the period 31/12/2020 – 31/03/2026.
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Alex Davies
Chief Executive
Alex was a board director at Hargreaves Lansdown, where he worked for 15 years. He was responsible for building Hargreaves Lansdown into the biggest direct-to-consumer SIPP provider in the UK with more than 150,000 clients and over £12 billion under management. He is a keen investor with a portfolio of shares, funds, student property, EIS and VCT investments.