Private equity house Frost Brooks, co-founded by Sir David Frost’s son Miles, has made its first investment since launching in 2012, completing a “significant deal” to raise capital for e-commerce service provider Parcel Monkey Group.
Frost declined to disclose the size of the investment, but said: “We invest between £1m and £10m. This was closer to £1m, but it was significant.”
Frost told City A.M. that the deal was as much about Nav Ramiah, Parcel Monkey CEO, as the business he has built.
“It’s taken a long time to find a business and entrepreneur that we believe has a good global proposition,” Frost commented. “We are very patient, and very picky.”
He confirmed that Frost Brooks hopes to announce another deal within the next month, but said the company was not ready to reveal any further detail.