Venture capital trusts advised by specialist private equity fund manager YFM Equity Partners LLP have invested £3.5 million in e-learning software provider Elucidat Ltd.

The investment came from British Smaller Cos. VCT PLC and British Smaller Cos. VCT 2 PLC.

Elucidat will use the funds to speed up the development of its products, as well to further grow its operations in North America that accounts for 35% of its revenue.

U.K.-based Elucidat offers a cloud-based e-learning authoring tool and platform for global organizations.