Advent Venture Partners, the technology venture capital firm, has invested £8.5m (€13.5m) in Netik, a financial services software company, in James McNaught-Davis' first deal since joining the firm in September.

McNaught-Davis had originally invested in Netik in his previous position at Warburg Pincus, the US private equity firm, and brought Advent in to invest in this second financing round. Warburg Pincus also invested a further £2.1m. Further details of the stakes each investor held in Netik were not disclosed.