Octopus Capital has acquired the management company through which Jonathan Samuels set up and managed the Dragonfly Property Finance lending business.

Octopus Capital is the holding company of Octopus Investments. The participants did not disclose any financial details of the deal.

Samuels and the employees of the management business will become employees of Octopus Investments.

Simon Rogerson, CEO of Octopus Investments, said: “Jonathan first pitched this niche property lending business to us over four years ago. It was a bold and counter-cyclical business plan, but Octopus Investments prides itself on working with experienced and entrepreneurial-minded people.

“Since then the business has outgrown both our and Jonathan’s most ambitious hopes. As part of this acquisition, we welcome Jonathan and his employees to the Octopus team.”

Samuels, CEO of Dragonfly Property Finance, said: “Octopus are a fantastically successful asset manager with over £3bn funds under management. Octopus are market leaders in innovative tax solutions and have a very entrepreneurial and dynamic mindset.

“We have worked closely together over the past 4 years and I personally look forward to becoming part of the team driving the business forward.”