HgCapital Trust (LSE:HGT) will commit approximately £20 million to Nourish, a Bournemouth-based provider of care management software, with other Hg-managed institutional clients investing alongside through the Hg Mercury Fund.
Nourish, founded in 2011, supplies software that helps residential and home care teams plan, record and coordinate support, and counts many of the UK's leading care providers as customers.
Founder Nuno Almeida remains chief executive and a significant shareholder, while Livingbridge, which has backed the company since 2022, retains a minority stake.
The investment will fund continued product development, including artificial intelligence tools built with Hg's in-house AI product team, Hg Catalyst, aimed at reducing administrative work for carers. Existing customer contracts and day-to-day service are not expected to change as a result of the deal.
"Nourish has a modern product that care providers love, developed in close partnership with the people who use it," said David Issott, Partner at Hg.
The transaction is expected to close by the end of August.
News Intelligence what this means for the company
HgCapital Trust is committing £20 million to Nourish, a UK care management software provider founded in 2011, alongside other Hg-managed funds in a deal expected to close by end-August. The investment will fund product development including AI tools built with Hg's in-house Hg Catalyst team, aimed at reducing administrative burden for carers; founder Nuno Almeida remains CEO and significant shareholder, while prior backer Livingbridge retains a minority stake.
The Nourish investment represents a deployment of trust capital into a software business aligned with Hg's stated AI value-creation strategy—roughly 20% of Hg's portfolio companies already generate over 10% of new bookings from AI initiatives. At £20 million, the commitment is material relative to HgT's recent £19m share buyback, though the trust's total portfolio size and cash position are not disclosed in the available context, limiting assessment of concentration risk.
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