A fund managed by Oakley Capital Investments Ltd. is taking a majority stake in German consumer technology company Seven Miles GmbH in a transaction slated to close by the end of September.
Oakley Capital IV is partnering with Seven Miles founders Tom Schröder and Valentin Schütt on the transaction. The investment firm is making an indirect contribution of approximately £25 million through its interest in the fund.
Seven Miles provides multibrand gift vouchers to consumers that can be redeemed at most retailers in Germany, as well as business-to-business gifting solutions to corporate partners. It operates under the Wunschgutschein, WishCard, SteuersparCard and other brands.
Oakley said it will work with Seven Miles' management team to advance its growth and product innovation efforts. The firm invests in various sectors across Western Europe, with a particular focus on the technology, media and telecom; consumer; and education segments.