Clairvest Group Inc. and its Clairvest Equity Partners V LP fund closed a combined equity investment of £23.0 million in FSB Technology (UK) Ltd.

The private equity firm, in reporting its fiscal 2020 first-quarter results, said the investment may be increased by up to £4 million.

At closing, Clairvest Group's portion of the investment was £6.8 million for a 24.3% stake in FSB. London-based FSB is a business-to-business sports and internet gaming technology distributor.