HSBC-backed communications surveillance software developer has secured funding in a deal making Toscafund its lead investor.

Asset fund manager Toscafund invested $25m in VoxSmart, a UK-headquartered surveillance software provider backed by financial services firm HSBC, yesterday.

VoxSmart provides communications surveillance software for use in the capital markets space, allowing customers to store employee communications so trades can be reconstructed.

HSBC provided $7.2m in funding for the company in March 2020, after investment management firm DeepBridge Capital had led a $7m round in 2017. Toscafund said the latest deal made it VoxSmart’s lead investor.

Oliver Blower,…