Clairvest Invests £23 Million in FSB Technology

Clairvest Group Inc. together with Clairvest Equity Partners V has made a growth equity majority investment of £23 million in FSB Technology, a leading Business to Business sports and internet gaming technology supplier based in London.

The investment may be increased by up to £4 million, subject to certain conditions. The opportunity to invest in FSB extends Clairvest’s track to the online gaming supplier market with a focus on sports betting. FSB is Clairvest’s 54th platform investment, 13th investment in the gaming space and the tenth investment by CEP V.

“We are impressed with FSB’s leadership, technology platform and tremendous growth track record to date. Having spent over two years evaluating the sports betting space, we view FSB as a strong leader with a promising opportunity to expand into new regulated sports betting markets. We are excited to back the Company’s co-founders and partner with proven and strongly aligned gaming entrepreneurs,” Michael Wagman, President of Clairvest said.

“Clairvest’s growth capital investment in FSB is an important milestone for our company. Beyond capital, Clairvest’s deep industry knowledge in the gaming space will be instrumental in supporting our team as we embark on an aggressive growth plan in our existing markets as well as new geographies,” David McDowell, Co-founder and CEO of FSB said.