News and coverage

EV has recently been appointed Fund Manager of the Finance Yorkshire Seedcorn Fund, one of three products offered as part of a £90million venture and capital loan fund, provided by Yorkshire Forward, to help small and medium businesses in the Yorkshire region.

The £15million Seedcorn Fund will invest up to £780,000 in pre-revenue, high risk, early stage innovative technology and knowledge-based businesses.

As a result of the new contract, EV is appointing a Fund Administrator to assist and support the EV Seedcorn investment team.

The role, which will be based at the Finance Yorkshire office in Dodworth near Barnsley, comprises:-

Assisting the EV investment teams with:

Administration of the enquiry process and support of the investment team and CRM records

Supporting deal completion with appropriate documentation, cash transfer processes and post completion follow-up

Maintaining investment databases and other records in respect of all client fund portfolio investments; recording new investments, realisations, income and any other changes to investment details

Helping to ensure timely collection of income and capital repayments due from portfolio companies

Ensuring timely production of internal and external reports e.g. WIP list, third party transaction reports, investee company lists, portfolio and investor returns

Planning timetables for and assisting with periodic client reporting (having regard to internal, FSA and other reporting deadlines) and ensure that any necessary internal/third party information or statistics are supplied to/requested from the relevant party to enable timely production of valuations, reports and accounts.

Collecting economic output data from investee companies on a periodic basis

Assisting the team with collating on recording key contacts and helping to organise meetings

Assisting the Senior Financial Controller with:

Preparing financial information and statements for the Finance Director as required from time to time including monthly and annual accounts, budgeting and any other documents as agreed from time to time;

Maintaining and controlling the company’s accounting systems;


Relevant experience in the financial services sector is not a requirement but would be useful but the successful candidate must have strong communication and interpersonal skills and be able to work with all levels of management.

Strong Excel modelling skills are essential as well as working knowledge of Microsoft Word, Powerpoint and Database use. Knowledge of Sage Line 50 and previous experience with Microsoft CRM would also be an advantage.

He/she will  be working towards, or willing to work towards, an accounting qualification.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

The successful applicant will be offered an attractive package including benefits.

Interested candidates should send a copy of their full CV, including details of their current remuneration package, to Deborah Moon at EV by email at dm@evgroup.uk.com

The new Yorkshire-wide Fund for growing businesses, Finance Yorkshire, has announced that it has now signed contracts with the Fund Managers responsible for investing the money, when the Fund starts investing in early August 2010.

EV, along with FSY and NorthStar Equity Investors in consortia with NEL, will manage the £90m fund, specifically available to help small and medium businesses (‘SMEs’) to meet the gaps in funding they need for growth and development.

The Fund, which will be promoted under the single brand of Finance Yorkshire, is the new venture and capital loan fund provided by Yorkshire Forward to invest in businesses across Yorkshire and Humber. It is set to complete its investment phase by December 2013.

The £90m Fund is split into three sections, targeting loan and equity investments into start-ups, technology based companies and growing SMEs.

The Seedcorn Fund, to be managed by EV, will invest up to £780,000 in pre-revenue, high risk, early stage innovative technology and knowledge-based businesses. The Seedcorn Fund has a total of £15m to invest and will be making tranched investments in companies that have the potential of high returns.

The Small Loan Fund will be managed by FSY and will be providing gap loan finance for capital expenditure and working capital to assist with the growth and development of businesses. The loans will typically be unsecured and will range from £15,000 to £150,000. The Small Loan Fund has a total of £27m to invest.

Northstar Equity Investors, in conjunction with NEL, together are responsible for managing the Equity Fund, with a total of £48m available to support larger expansion plans. The Fund will make equity based investments, including mezzanine finance from £100,000 to £2m and will support a range of activities including growth, capital expenditure and some larger start-up ventures.

James Newman, Chairman of Finance Yorkshire, said, “The Fund Managers we have chosen are some of the best in the country in delivering this kind of finance to businesses. They are extremely knowledgeable and experienced in this field and we are pleased to have them on board".

“The Fund Managers have an important and fulfilling role establishing hundreds of new businesses, creating thousands of jobs in Yorkshire and Humber and helping business leaders develop their companies to become the best they can be".

“This multi-million investment will develop organic economic growth. Having a Yorkshire-based investment fund will pool together the skills needed to make businesses successful".

"The Fund Managers will also be working closely with other public and private sector funders in Yorkshire, such as the banks, private investors and business angel groups, as well as financial and professional intermediaries, to assist SMEs to grow and develop here in Yorkshire.”

EV, the independent venture and growth capital fund manager, has today announced that Dr Mark Wyatt has re-joined its EV Tech investment team.

Mark will take up the role of Investment Director and will again focus on early-stage technology deals in leading-edge technologies located throughout the UK, with a particular focus on his bio-technology specialism.

He re-joins EV from London-based Imperial Innovations, where he spent two years as Bioscience Ventures Manger, with responsibility for the formation of new, and management of existing, early-stage portfolio companies. His role at Imperial involved the analysis of new technology spin-out opportunities, predominantly in the life sciences area, and working with founding academics and incoming management teams to build valuable investment propositions.

Prior to joining Imperial in 2008, Mark spent five years with EV, and before that, six years at Merlin Biosciences, a venture capital and advisory company dedicated to the life sciences sector.

Jonathan Diggines, EV’s Chief Executive, commented, “I am delighted to be able to announce Mark’s appointment – he joins the company again at a very important time for EV. We now manage in excess of £50million of funds specifically focused on investment in the UK early-stage technology space and have also recently been awarded a number of fund management contracts aimed at regional seed and start-up technology opportunities".

"Our highly skilled Tech team is expanding and we will be making new appointments to enhance our capabilities in the next few months. This is an area of our business which we intend to expand, with new contracts and future fund raising activities”.

Speaking on his appointment, Mark said, “I am looking forward to working with my colleagues in the EV Tech team again. EV has grown significantly in the last two years, with several new funds under management, and has a very positive outlook for the future. It is certainly an interesting time to be re-joining EV and I hope that I can apply some of the experience I have gained at Innovations to add value to the existing and new Tech portfolio companies.

Mark can be contacted on 07879 424395 and via email at maw@evgroup.uk.com

EV has recently been awarded the management contract for The North West Fund 4 Venture Capital (“The Fund”), which has £30million to invest in start-up and early stage businesses located across the North West region.

EV’s aim is to make strong commercial returns, alongside the developmental objective of the Fund’s investors (ERDF & EIB).

To do this, we are looking to invest in individuals with a talent for business and an ambition for growth, in three main areas:

• Successful managers with a track record in customer-facing roles, either individually or in teams, with new ideas and looking to set up on their own;
• Young people with exceptional raw talent, energy and ideas;
• Scientists and engineers with unique technologies addressing market demand, who are open to working with us in matching them with commercial colleagues.

We are looking to recruit for the following four vacancies:-

• Investment Director - Manchester
• Investment Director – Merseyside
• Investment Manager – Manchester
• Investment Manager - Merseyside
  
  

INVESTMENT DIRECTOR - MANCHESTER

EV is looking to appoint an Investment Director to be based at EV’s Manchester city centre office to help launch and run this Fund.

The role includes:

• Reporting to the Fund Manager, shaping the Fund’s investment strategy as we adapt it in the light of changing circumstances and experience;
• Leading and managing new and existing investments without need of supervision, inspiring trust and respect from investees, colleagues and investment committees;
• Working with the EV Marketing Manager, actively promoting the Fund across the region through new and existing relationships with entrepreneurial business leaders and PR channels as well as professional intermediaries, deal referring networks and business advisers, as required;
• Assisting the Fund Manager in the day-to-day supervision, recruitment and training of junior investment staff.

Person specification

The successful candidate will be able to demonstrate the following skills and experience, through a thorough interview process and standard industry referencing:

• FSA Threshold Competent;
• A thorough knowledge of and strong track record of investing in either the venture capital or private equity space, generating positive IRRs;
• Commercially aware with sound judgment in assessing potential investments and individuals, including identifying under-performance and effecting change;
• Articulate, well-argued and persuasive, both orally and written;
• Strong relationships of mutual respect with investees;
• An effective networker able to positively promote the Fund and build a strong contact base with regional intermediaries and deal referrers;
• Competent and efficient in managing and negotiating transactions, with comprehensive technical knowledge and strong project management skills.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

The successful applicant will be offered an attractive package including benefits.

Interested candidates should send a copy of their full CV including details of their investment track record and current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com

INVESTMENT DIRECTOR - MERSEYSIDE

EV is looking to appoint an Investment Director to be based at EV’s Liverpool city centre office to help launch and run this Fund, with a particular focus on its investment activities in Merseyside, where 40% of the Fund is to be invested.

The role includes:

• Reporting to the Fund Manager, shaping the Fund’s investment strategy as we adapt it in the light of changing circumstances and experience;
• Leading and managing new and existing investments without need of supervision, inspiring trust and respect from investees, colleagues and investment committees;
• Working with the EV Marketing Manager, actively promoting the Fund across the region through new and existing relationships with entrepreneurial business leaders and PR channels as well as professional intermediaries, deal referring networks and business advisers, as required;
• Assisting the Fund Manager in the day-to-day supervision, recruitment and training of junior investment staff.

Person specification

The successful candidate will be able to demonstrate the following skills and experience, through a thorough interview process and standard industry referencing:-

• FSA Threshold Competent;
• A thorough knowledge of and strong track record of investing in either the venture capital or private equity space, generating positive IRRs;
• Commercially aware with sound judgment in assessing potential investments and individuals, including identifying under-performance and effecting change;
• Articulate, well-argued and persuasive, both orally and written;
• Strong relationships of mutual respect with investees;
• An effective networker able to positively promote the Fund and build a strong contact base with regional intermediaries and deal referrers;
• Competent and efficient in managing and negotiating transactions, with comprehensive technical knowledge and strong project management skills.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

The successful applicant will be offered an attractive package including benefits.

Interested candidates should send a copy of their full CV including details of their investment track record and current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com

INVESTMENT MANAGER - MANCHESTER

EV is looking to appoint an Investment Manager to be based at EV’s Manchester city centre office to help launch, invest and run this Fund.

Whilst we expect the successful candidate to be relatively new to the venture capital sector, he/she will possess the attributes to become an established venture capital investor, capable of taking on additional leadership responsibilities in this Fund or in one of the many funds managed by EV, which is a fast growing, dynamic fund management business.

The role includes:-

• Under the supervision of the Fund Manager/Investment Director, working on the assessment and conversion of investment opportunities, including research, negotiation, interviewing, referencing, preparing investment papers, managing legal documentation;
• Managing relationships with entrepreneurs and portfolio investee companies, initially with some supervision from senior colleagues;
• Working with the EV Marketing Manager, actively promoting the Fund across the region through new and existing relationships with entrepreneurial business leaders and PR channels as well as professional intermediaries, deal referring networks and business advisers, as required.

Person specification

We are looking for exceptional potential in the following areas:

• Ability to relate with confidence and credibility to entrepreneurs and demanding business people;
• Ability to present and sell, yourself as well as complex ideas, both in person and in writing
• Strong analytical ability, both numerical and literate;
• Able to understand and summarise new markets and technologies;
• A self-starter with independence of mind, capable of forming his/her own judgments about individuals and businesses;
• Willing to manage multiple projects in parallel, staying on top of a demanding work-load;
• An innate flair for business.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

The successful applicant will be offered an attractive package including benefits.

Interested candidates should send a copy of their full CV including details of their current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com

INVESTMENT MANAGER - MERSEYSIDE

EV is looking to appoint an Investment Manager to be based at EV’s Liverpool city centre office to help launch, invest and run this Fund, with a particular focus on its investment activities in Merseyside, where 40% of the Fund is to be invested.

Whilst we expect the successful candidate to be relatively new to the venture capital sector, he/she will possess the attributes to become an established venture capital investor, capable of taking on additional leadership responsibilities in this Fund or in one of the many funds managed by EV, which is a fast growing, dynamic fund management business.

The role includes:-

• Under the supervision of the Fund Manager/Investment Director, working on the assessment and conversion of investment opportunities, including research, negotiation, interviewing, referencing, preparing investment papers, managing legal documentation;
• Managing relationships with entrepreneurs and portfolio investee companies, initially with some supervision from senior colleagues;
• Working with the EV Marketing Manager, actively promoting the Fund across the region through new and existing relationships with entrepreneurial business leaders and PR channels as well as professional intermediaries, deal referring networks and business advisers, as required.

Person specification

We are looking for exceptional potential in the following areas:

• Ability to relate with confidence and credibility to entrepreneurs and demanding business people;
• Ability to present and sell, yourself as well as complex ideas, both in person and in writing;
• Strong analytical ability, both numerical and literate;
• Able to understand and summarise new markets and technologies;
• A self-starter with independence of mind, capable of forming his/her own judgments about individuals and businesses;
• Willing to manage multiple projects in parallel, staying on top of a demanding work-load;
• An innate flair for business.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

The successful applicant will be offered an attractive package including benefits.

Interested candidates should send a copy of their full CV including details of their current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com 

EV, the independent venture and growth capital fund manager, has promoted two of its senior managers by appointing them to its Executive as part of the ongoing development of the Group's management team.

Paul Taberner and Julian Viggars have joined EV's Executive to sit alongside its existing members, Chief Executive, Jonathan Diggines and Finance Director, John Simpson. EV's Executive has overall responsibility for Group operational and management issues, including fund management and business development activities.

Paul Taberner is Investment Director for the EV Growth team, which provides growth capital funding of up to £2million to SMEs located throughout the UK. He is also Fund Manager of the Coafields Funds, which EV manages on behalf of Communities & Local Government and which provides funding to the former English coalfield regions.

AS EV's Head of Technology Investment. Julian Viggars leads the EV Tech investment team and is responsible for in excess of £50million of funds specifically focused on seed and early stage technology investments throughout the UK regions.

Speaking of the appointments, Richard Bamford, EV's Chairman, commented, "I am delighted to announce these new appointments, as a result of EV's continuing success and significant prospects. We have recently secured new mandates which will require EV to continue to build for the future, both operationally and as regards its managerial capacity".

In the UK, family businesses are estimated to account for more than two thirds of all companies yet many have no plans for what they will do with their business in the future. For owner-managed and family businesses, it is critical to think about who will run your business when you retire.

Whether you are looking at funding options for future planning, want to maximise your wealth at retirement or leave the business in safe family hands, sucession planning is an important consideration for any business.

Experts from the teams at Forbes Solicitors, EV and PM&M Chartered Accountants have joined together to present a free seminar on how your business can prepare appropriately for future sale or succession.

The seminar will take place on Tuesday 14 September 2010 at Stanley House Hotel, Mellor. Registration and breakfast is from 8am and the seminar will close at 10am at the latest.

To reserve a place at this seminar, please email Deborah Moon at dm@evgroup.uk.com

EV has been announced as one of eight Fund Managers to be appointed to manage the £185 million North West Fund, the largest public fund of its kind in the UK, when it is launched in Summer 2010.

The North West Fund is the umbrella name for the six funds which have been designed specifically to support businesses in the North West and will offer development capital, business loans, venture capital and funding specifically aimed at the region's priority sector funds; Biomedical, Energy & Environmental and Digital & Creative.

The Venture Capital element of The North West Fund will offer early stage finance for SMEs across a broad range of new businesses covering proof of concept, pre-start, start-up, seed capital, gap venture finance and venture capital funding, including follow-on investments. This fund will have a broad sector range, outside those targeted by the specific priority sector funds but with an emphasis and focus on the regional economic priority sectors, including technology.

Whist the Fund has not yet launched, further information on the Venture Capital Fund can be obtained from the investment team at EV on 0845 094 8886

Staffordshire-based company, Powelectrics Limited has secured a substantial investment package from EV to support its ongoing development and working capital requirements.

The company, which is based in Tamworth, designs and manufactures a range of sensing and telemetry equipment for use in various commercial applications, including factory automation, process monitoring & control, as well as for remote monitoring of equipment and resources. The company has developed a new product range targeted specifically at the market for the remote monitoring of gas and chemical tanks; a market in which it is experiencing significant growth with the potential for new contracts and distribution agreements. Its product range, currently sold to a global customer base, aims to reduce distribution costs, improve stock management and scheduling and have a positive effect on customer service provided by the user company.

Equity funding was provided by EV through the Coalfields Funds, with banking facilitiies provided to the company by RBS.

Jonathan Diggines, Chief Executive of EV, commented, "This is our second investment in the Midlands in two months and demonstrates EV's commitment to providing funding to SMEs in the region from our recently opened Birmingham office, which is headed up by Simon Ward. We are delighted to be able to support Peter John and his team in taking Powelectrics to the next stage of its development".

Wayne Thomas, Investment Director at EV who completed the investment, commented, "Telemetry is a rapidly growing market space; the products that Powelectrics has developed within this target market will provide it with significant potential for growth and development of its customer base. We first bacame aware of Powelectrics twelve months ago and have been impressed with the progress it has made since that time and the market opportunities created by its management team."

Managing Director of Powelectrics, Peter John, said, "The calibre of Powelectrics' staff and the quality of the major opportunities that have arisen for the company have enable us to secure the support from EV. We can now concentrate our efforts on moving several key projects to the next stage and can look forward to a very bright future."

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EV Tech investee, Plant Impact plc has announced that it has signed a distribution agreement for its calcium devivery product, InCa, with Arysta LifeScience Mexico.

As part of the ten year agreement, Arysta LifeScience will have exclusive distribution rights for sales and marketing of InCa in Mexico, Guatemala, Costa Rica, El Salvador, Honduras, Dominican Republic, Panama, Belize and parts of the Caribbean. Sales of InCa in Mexico are due to commence in the third quarter of 2010, and Plant Impact has already received the first order for shipment in September 2010.

Plant Impact is also negotiating distribution agreements with Arysta LifeScience subsidiaries in Czech Republic and Romania.

Arysta LifeScience and Plant Impact are co-ordinating field trial activities, and the initial trial programme, which has already commenced, is concentrating on the US, Mexico, Chile, Ivory Coast, South Africa, North Africa, Indonesia, Thailand, France, Poland, Romania and Czech Republic.

Peter Blezard, CEO of Plant Impact, commented, "Plant Impact continues to demonstrate commercial development with key partners like Arysta LifeScience. The relationship between the two companies is strong, with joint teams working on BugOil development, crop nutrient field trial development and commercialisation".

Paula Pinto, Global Head of Marketing at Arysta LifeScience, said, "We are excited about the opportunity to bring Plant Impact's innovative product platform to Central America, and soon, to other regions around the world through our significant global market development and distribution network".

EV, the UK-based venture and growth capital fund manager, has today announced that it has provided funding to Liverpool-based molecular diagnostics company, Biofortuna Limited.

The funding provided by EV Tech, with co-investor Catapult Venture Managers, is part of a £1.1million package, which will be used to launch the company’s first diagnostic genotyping products and to allow it to continue development of its future product pipeline.

The company designs and develops innovative genotyping and antibody screening tests for the clinical healthcare market. It creates easy-to-use diagnostics that address complex genotyping issues. Its novel processes, extensive experience and patented techniques are directly applicable to genetic tests for use in organ transplantation and management, blood banking, disease identification, microbiology and pharmacogenomics. Its tests aim to increase laboratory productivity and improve quality in clinical testing and patient care.

The company was formed in 2008, securing a research and development grant from the Northwest Development Agency and funding from the Liverpool Seed Fund shortly thereafter. 2009 saw the company signing sales and distribution agreements for European and North African markets, alongside regulatory approvals on its first product range. The company agreed a co-development and distribution deal with Edinburgh-based Lab901 Limited, a developer and manufacturer of innovative automation systems for the life science industry in November 2009 and in the same month, was awarded the prestigious award of Northwest Development Agency Start-up Business of the Year.

The management team is led by CEO Mike Bunce and fellow Directors, David Charvill and Ben Passey, who, following this funding round, will be joined by David Whitcombe, who was part of the founding team of DXS, a North West-based molecular diagnostics company sold to Qiagen in 2009 in a deal worth £80million.

Mike Bunce commented, “Biofortuna is very pleased to be working with two new successful investment firms, EV and Catapult, who join our existing investor, Liverpool Seed Fund. This investment will ensure that the strong progress we have made in the last year will accelerate and help our innovative product portfolio expand over the next year. It will also help us to strengthen our team and expand our research and manufacturing capabilities as we look forward to launching more products throughout 2010 and beyond. We thank Halliwells’ Corporate Partner, Craig Scott and Associate, Richard McKay for advising Biofortuna on this deal. In addition, we would like to thank Mark Hurley and Lorna Green for their help and advice in fundraising”.

Julian Viggars, EV’s Head of Technology, said, “Biofortuna is a business we have tracked for a number of months now. I believe it is very well placed to benefit from the progression in thinking around how innovative, easy to use genotyping products will increasingly be used in the management of organ transplant processes, to identify potential adverse drug reactions or check the efficacy of expensive drugs across pharmacogenomics”.

“Mike and his team have built the company around a deep knowledge of the current marketplace and are highly rated. In David Whitcombe, we have added a manager who has been involved in building and very successfully exiting a related business and, with co-investor Catapult, the company now has the strong financial backing that will be required to succeed”.  

Ben Bolt, Investment Director at Catapult, commented: “Biofortuna has all of the key ingredients that Catapult looks for in a successful early stage investment. This includes a management team combining both scientific and commercial skills and headed-up by a thought leader in the field.  In addition, the company is benefiting from the addition of an experienced non-executive director. Add to this core products with genuine and proven USPs, a mature product development pipeline and a market that is innovative, embraces change and is growing; and this is a very exciting investment. We look forward to helping Mike and his team grow the Biofortuna brand.”

Legal advice to EV and Catapult Venture Managers was provided by James Trevis and Jon Gill of Eversheds, and to the company by Craig Scott and Richard McKay of Halliwells.

EV, the UK-based venture and growth capital fund manager, has today announced that it has provided a second round of funding to existing investee company, Transglobal Payment Solutions Limited ("TPS").

The funding, provided by EV Growth, will be used to build out and accelerate adoption of the company's unique PayFac solution, which is one of the fastest growing corporate payment solution in the UK.

Since its launch in 2007, usage of PayFac has grown rapidly and the product has now been adopted by over 500 companies. The product allows businesses to make domestic and international payments and direct debits on one platform without the need to install and maintain software. Businesses can replace bank, foreign exchange, BACS and direct debit management software with one solution and by using one common, highly secure process.

EV has invested further monies alongside a new private investor, Peter Fortune, who also takes up the position of Chairman of the company, replacing Gareth Jones who has been Chairman since the company was founded in 2007.

Commenting on Peter's appointment, Gareth said, "Peter's wealth of experience in the payments sector and in growing businesses to realise their potential will be a great asset to the company".

"My time at TPS has been both exciting and challenging. The company has been successful in two financing rounds and is now firmly established in the international payments space. The latest funding round will accelerate its growth and the company is now positioned well for the future".

Commenting on his appointment, Peter Fortune said, "TPS has invested wisely in its web-based PayFac payment platform which has simplified the way businesses make domestic and international payments. I look forward to supporting the company's Executive team in this next stage of its growth".

Jonathan Diggines, Chief Executive of EV, commented, "TPS possesses all the credentials EV looks for in an investee SME; a product with a solid and expanding target market, a knowledgeable and dedicated management team, a focus on strategic development and the potential for real growth".

"EV has a strong and demonstrable track record in investing in and working closely with SMEs and the investment team is constantly looking for opportunities to support new and existing regional companies".

Wayne Thomas, Investment Director at EV who led the deal, commented, "There is a huge market opporutnity to simplify global corporate payments and TPS is well positioned to exploit this - EV is delighted to provide a second round of investment to the company and to continue to work with its management team".  

EV has announced the appointment of Paul Betts to its EV Growth investment team.

Paul joins EV as Investment Manager and will focus on investing in the Yorkshire & Humberside and North East regions.

Paul joins EV from YFM Group where he spent three years investing in SMEs throughout Yorkshire. He has considerable investing experience as well as a wide network of contacts in the region having spent the last eight years in the Yorkshire corporate finance market. Prior to his time at YFM, Paul spent ten years at accountancy firm, Grant Thornton, where he specialised in corporate finance, advising companies, management teams and venture capitalists on a range of transactions.

Jonathan Diggines, EV's Chief Executive, commented, "Paul joins us at a very important time for EV. EV's revised funding capabilities are now providing much needed equity for regional SMEs and the extended Coalfields Fund, investing in the former coalfield areas of England, now mean that EV is able to invest up to £2million in equity in a wide range of corporate solutions, including management buy-outs, development capital and replacement capital, anywhere in the UK".

"EV has been an active investor in Yorkshire & Humberside for some time; in fact, during the past two years, a large proportion of EV's investment activities have focussed on companies based in the region and Paul's appointment will only strengthen EV's presence there".

Speaking on this appointment, Paul said, "I am delighted to have joined EV. It has an excellent reptuation in the marketplace and a very strong investment track record. I am looking forward to working on the EV Growth Funds, investing in high quality companies and helping entrepreneurs across the region to build successful businesses".  

EV is celebrating after scooping two awards at this year's Insider Lancashire Dealmakers Awards.

The event, attended by the region's dealmaking community, saw EV take Technology Deal of the Year for the latest fund raising in Medalytix Limited and Fund of the Year for the fifth consecutive year for Rosebud, which EV manages on behalf of Lancashire County Council.

RisingStars investee, Medalytix Limited, secured a further round of investment and attracted new investors to support the next stage of the company's development.

Jonathan Diggines, Chief Executive of EV, commented, "It's great to see the Medalytix deal receiving this award. Their retinal screening technology is world class. RisingStars has invested £600,000 in tranches, turning an idea into commercial reality".

Speaking of winning the Fund of the Year award, Richard Bamford, EV's Executive Chairman, said, "To win the award yet again this year is testament to the significant impact Rosebud continues to have in assisting the region's companies".

"The Rosebud investment team at EV has seen an increase in the number of applications received for both loan and equity funding from Rosebud in recent years and we're actively looking for investment opportunities from the region's SMEs at all stage of their development".

Nottinghamshire-based company, Doff Portland Limited ("Doff"), has secured a substantial investment package from a group of Midlands-based funding providers to support its ongoing development and working capital requirements.

The company, which is based in Hucknall, is an independent, family-owned business which was founded in 1946 by the father of the current Chairman. It is the UK's largest independent manufacturer of insecticides, slug pellets, weed-killers and garden products for use in both the domestic and agricultural markets, as well as a supplier of own brand products to a number of major UK retailers.

Equity funding was provided by EV, via the Coalfields Enterprise Fund and Turning Point Investments LLP with banking facilities provided by Yorkshire Bank.

Simon Ward, Investment Director at EV who manages its investments in the East & West Midlands from its Birmingham offices, commented, "We are delighted to be able to support Graham Whyatt and his team in taking Doff on to the next chapter of its history. As a significant local employer and an integral part of the community, we look forward to a productive partnership over the coming years".

Jonathan Diggines, EV's Chief Executive, said, "EV has been active in the Midlands for some time and this is expected to increase with the appointment of Simon and the recent opening of EV's office in Birmingham city centre. EV's funds specifically focused in the Midlands have increased substantially in recent months and we are already seeing an increase in the level of demand from companies located in the region that are looking for venture and growth funding". 

EV has recently been awarded several mandates for new funds bringing funds under management to c.£85 million with the capacity to invest up to £2 million in SMEs located across the UK.

As a result, an Investment Manager is required to join its EV Growth team to cover the Yorkshire and North East regions. The role will be Yorkshire-based with the need to attend EV's Manchester office as required.

The successful applicant is likely to be ACA qualified as well as being FSA Threshold Competent. He/she will have worked in the VC/private equity arena previously and will have an investment track record. The applicant will be a self-starter and an effective networker able to positively promote EV and its funds under management and build a strong base with regional intermediaries and deal referrers.

Applicants must also have the following key attributes:-

- Commericall aware with a sound level of judgment
- Sound project management skills
- Proven analytical and problem solving abilities
- Able to manage duties with some guidance from Fund Manager
- A sound communicator, both written and verbally
- Able to build good relationships with investees, clients and contacts
- Energy, enthusiasm and a keen interest in the SME space

This is an outstanding opportunity to join a growing and independent specialist fund manager.

Attractive package including benefits.

Interested candidates should send a copy of their full CV including their investment track record and details of current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com or by post to EV's head office at PTMC, Marsh Lane, Preston, PR1 8UQ. 

There's reason to celebrate in the office this morning and party poppers have already been pulled!

Heather Lloyd, our Investment Administrator, is now engaged after her partner, Paul, went down on one knee and proposed over the weekend...thankfully she said "Yes".

Heather is apparently still recovering from the shock of it all!

EV Tech investee, Evgen has announced that is has entered into an Option Agreement to license, on a world-wide exclusive basis, a new pharmaceutical formulation developed by PharmaAgra Inc and Lalilab Inc of North Carolina, USA.

The license rights, which include all pharmaceutical and medical food applications, would enable Evgen to develop what its directors believe is the first shelf-stable sulforaphane composition for the potential prevention and treatment of a number of conditions, including early stage prostate cancer.

The cancer preventative benefit of cruciferous vegetables, such as broccoli, is widely believed to be due to a molecule called glucoraphanin, which converts to the bioactive molecule, sulforaphane. Whilst sulforaphane has been studied with regard to its mechanism in chemoprevention, it has hitherto been an unrealistic drug candidate due to poor stability.

Chief Executive of Evgen, Dr Stephen Franklin, said, "We are delighted to enter into this Option Agreement with PharmaAgra and Lalilab. Sulforaphane is one of the most promising natural products with a significant body of scientific literature relating to its mechanism of action, its safety profile and efficacy as demonstrated by in-vitro and on-vivo preclinical work. Despite this promise, clinical development of the molecule has been impractical due to its instability. We now believe we have addressed this barrier and have the appropriate intellectual property to advance this drug into the clinic".

Speaking on behalf of PharmAgra Inc and Lalilab Inc, Roger Frisbee, Co-President of PharmAgra Inc, said, "PharmAgra, Lalilab and Evgen share a common vision of the commercial potential of a stabilised sulforaphane. Combining our chemistry and manufacturing skills, together with Evgen's clinical development expertise, we are confident that we could be embarking on a drug development programme with a much lower risk of clinical failure that is typical for a new chemical or biological entity".  

EV Tech, the technology investment arm of EV, has hosted a pitch session for a number of Finnish VC-backed digital media companies, as part of a tour of the region arranged by Liverpool Vision to promote the region's wealth of trade and investment opportunities.

The three day visit, arranged as part of the ongoing Liverpool Software City programme of events, will see Chief Executives of the companies along with Finland-based VC investor, Vera Venture and the British Embassy Helsinki, touring the region's key digital media sites, including Manchester's Media City and North West Vision & Media, and meeting with the region's active technology VC providers.

The session, hosted by Julian Viggars, EV's Head of Technology Investment and Ashwin Kumaraswamy, EV Investment Manager, was attended by digital media companies, Helsinki-based HammerKit and Starcut Software. Each was given the opportunity to deliver its elevator pitch to the EV team and was, in turn, offered valuable advice on the availability of funding in the region, as well as feedback on key issues, such as presentational tecniques, concept application, building networks and future strategies for UK market entry.

Jonathan Diggines, CEO at EV, commented, "EV was obviously very keen to be involved with the tour. EV has had a dedicated early-stage technology offering in the North West since 2002. It has a number of investees operating in the digital media space and at various stages of development and as such, the investment team has a wealth of solid hands-on experience to share with the delegates".

 "Similarly, as a sponsor of the 2009 Liverpool Software City event, we want to continue to support the programme of events to promote the region as a centre of technology excellence. The region's technology sector continues to thrive and inward investment into the region, which I believe has much to offer, should be encouraged".

Julian Viggars, EV's Head of Technology Investment, said, "Our focus and experience is backing high quality start-up and early stage technology businesses in the region. The Liverpool Vision program has provided and will continue to provide excellent dealflow and inward investment opportunities".

EV has provided a second round of investment to New Era Aquaculture Limited to support the company's ongoing working capital requirements.

New Era Aquaculture specialises in the formulation, development, manufacture and distribution of innovative fish feeds. It also designs, installs and maintains distinctive aquariums for the corporate and leisure markets. Since its launch in 2004, the company has focused its activities on developing its product range and has invested heavily on its manufacturing facilities. EV's original investemnt, made in late 2008, supported the company's growth and allowed it to scale up its operation and increase its market presence, as well as install a live fish holding facility at its modernised premises.

Since EV's original investment, the company has enjoyed significant growth and has been awarded a number of contracts, including a three year contract with Merlin Entertainments Group to supply technical diets to all thirty of its SeaLife Centres across Europe and the USA.

The company now sells its product range to domestic and commercial customers throughout the UK and across mainland Europe, USA and the Middle East, having secured the contract to supply the feed to one of the world's largest aquariums, The Dubai Aquarium & Underwater Zoo, located in the Dubai Mall.

Jonathan Diggines, CEO of EV, commented, "We continue to be impressed with the technical expertise of the management team and it has developed an innovative product range for both domestic and commercial use. There are a number of exciting opportunities in the pipeline for the company and we look forward to continuing to work with New Era and supporting its growth and success".

Paul Taberner, EV Investment Director, said, "New Era is now exploiting the full benefits of the new manufacturing facilities installed during 2009 and we are pleased to be able to provide continued support as the business continues to expand".

Peter Mersh, Managing Director of New Era Aquaculture, said, "Exciting times lie ahead for everyone at the company as we really start to develop the opportunities that we have created over the last two years. We're obviously delighted that EV continues to support us. It gives us tremendous confidence for the future growth of the company".  

EV Tech investee, Plant Impact plc, a global developer of technologies that improve crop productivity, has announced that its technologies have again received industry acclaim, with its pioneering INCA product being nominated as a finalist for the category of "Technical Product of the Year" at this year's Grower of the Year awards.

INCA, a calcium absorption aid that targets calcium nutrition in plants, is a bespoke product that Plant Impact has developed from its own proprietary patented CaT technology. In trials, CaT delivered calcium to plants up to 50 times more effectively that traditional calcium products, with fewer applications and less input. Extensively tested throughout the world on a broad spectrum of crops, CaT has secured sales in 24 countries.

INCA alleviates the problems casused by calcium deficiencies encountered by growing crops that suffer environmental stress, caused by drought, heat and cold conditions and physiological diseases incurred in the ongoing development of the fruit. The technology enables calcium uptakes and retention in the tissues of plants that do not absorb calcium naturally under normal growing conditions.

The annual Grower of the Year awards are organised by Haymarket Events and run by respected industry titles that include Horticulture Week and Grower magazine, in association with ASDA, the Horticultural Association and the National Farmers' Union.

Additionally, Plant Impact has announced that it has secured recognition from the UK Government as an innovator in the field of food security following international development with its sphere of activities extended to Brazil. Key technologies include the unique amine fertilizer (PiNT) and the Company's CaT technology products.

Plant Impact CEO, Peter Blezard, commented, "I am immensely proud that such a prestigious panel of judges from our industry have seen fit to recognise INCA by short listing us for this award. It further demonstrates that our focus on marketing CaT technology is providing the agricultural industry with an efficacious and commercially beneficial new delivery system that assists in the yield gap the world requires. CaT is beneficial  for consumers, growers and distributors. We are already selling INCA in 24 countries and will be extending the current field trial programme to increasingly involve third party contract research organisations to independently technical data in our quest to further develop our global markets and sales".

He added, "We also appreciate such enthusiastic support from the UK Government and are determined to make a significant contribution towards alleviating global food security concerns by helping to ensure that the quality and marketable yields of fruit and vegetable products reach levels that enable the demands of an ever-rising world population to be met, whilst, at the same time, contributing environmentally friendly technologies that reduce nitrogen consumption to limit the detrimental impact and extent of climate change".

EV, the independent venture and growth fund manager, has provided a second round of investment to Thermilate (Europe) Limited.

Thermilate, based in Huddersfield, manufactures and distributes a range of pioneering thermal insulations and protective paints, coatings and building products for internal and external uses for domestic, commercial and industrial applications. Its growing product range is specifically designed to save energy, reduce costs and lessen environmental impact, adopting the latest nano-insulating technologies, applying innovative formulae devised by the company's research & development team.

EV's additional funds will enable the company to pursue a number of opportunities. During 2009, the company entered into a number of new trading relationships to supply thermally-efficient coatings in the UK and overseas. Thermilate is now in advanced discussions with major retailers and paint manufacturers to further expand its distribution.

Jonathan Diggines, CEO of EV, said, "This investment meets EV's criteria - we initially invested in Thermilate at a very early stage of the company's development, to help it launch its product range in the UK. The management team has since achieved substantial growth, but there is plenty more to come from Thermilate's environmentally-friendly and energy-saving products".

Wayne Thomas, EV Investment Director for the deal, commented, "It was key to our investment decision that Thermilate developed its range of thermally-efficient coatings and building products based on the company's proprietary intellectual property. Burgeoning global demand for reduced carbon usage means that many organisations are now looking at alternative sources of building and related materials - and this is Thermilate's clear market opportunity".

Ash Ashfaq, Managing Director of Thermilate, said, "We are delighted that EV has shown further commitment to our business. We are already trading very healthily and with the additional investment, we are accelerating the immediate implementation of plans for growth, through development of our organisation, especially our marketing & sales and technology infrastructures".

EV's CEO, Jonathan Diggines, has joined forces with other leading regionally-based private equity practitioners to form The Manchester Private Equity Group, recently launched by Pro Manchester.

The group's objective will be to promote Manchester as a centre for private equity excellence and to attract further venture capital providers and entrepreneurs to the region. The voice for the industry, the British Venture Capital Association, has also agreed to join up with Pro Manchester to develop and support the initiative and its Chief Operating Officer, Andrew Graham, has confirmed he will join the group.

John Ashcroft, Chief Executive of Pro Manchester, commented, "Private equity funding is a key issue for economic development with emphasis on seed capital, pre-revenue and multi-stage funding for entrepreneurs, SMEs and future Gazelles for Growth. We have a key role in working with the NWDA and other organisations to ensure funding flows into the North West region". 

EV Tech investee, ACAL Energy Limited, has today announced that it is leading a collaborative project to build the world's first installed system using FlowCath^® fuel cell technology in a practical application.

The project represents an investment of £1.9 million and has been awarded funding by the Technology Strategy Board. It will see a fully operational demonstration of a FlowCath^® fuel cell unit installed at Solvay Interox's large industrial site at Warrington, Cheshire and will be a major step on the commercialisation road map for this innovative technology.

Joining ACAL Energy as partners on the project are Solvay Interox Limited, Johnsone Matthey Fuel Cells, UPS Systems plc, the Centre for Process Innovation, the University of Southampton and the Manufacturing  Engineering Centre at Cardiff University.

ACAL Energy and its partners will develop and operate a suitably sized, low cost FlowCath^® fuel cell unit to provide continuous electrical power to a remote environmental monitoring system within the chemical manufacturing plant. The project commenced on 1 December 2009, with the build and installation taking place in the second half of 2010. Ultimately, fuel cell systems utilizing FlowCath^® will be a clean and economically sensible alternative to diesel and gasoline generators in stationary and transportation applications requiring 1kW to 200kW of electrical power.

ACAL Energy's FlowCath^® technology replaces the platinum catalyst on the cathode in a proton exchange membrane (PEM) fuel cell with a low cost, durable liquid chemical. This will significantly reduce the overall platinum content, as much of the platinum in conventional PEM fuel cells is used in the cathode. ACAL Energy has developed a family of proprietary chemical compunds that deliver the same level of fuel cell power density as today's platinum cathode systems. Further increases in power density are forecast in the future. The technology also significantly reduces the balance of plant costs by eliminating the need for hydration, pressurization, seperate cooling and other expensive mechanical sub-systems commonly found in conventional PEM fuel cells.

"Field demonstration of our FlowCath^® technology is a very important milestone for the company", said Dr Sb Cha, Chief Executive Officer of ACAL Energy. "This application requires the unit to run 24 hours a day, 7 days a week, and will be an excellent example of the robustness and reliability of our low cost fuel cell technology. We are delighted to be part of a world-class project team and are grateful to the UK Technology Strategy Board for its support".

EV has recently been awarded several mandates for new funds, bringing funds under management to c. £85 million with the capacity to invest up to £2 million in SMEs located across the UK.

As a result, three new positions have arisen within its existing EV Tech team; an Investment Director and an Investment Manager are now required to cover the North West and Yorkshire regions, as well as a Fund Administrator to be based in the Yorkshire region.

INVESTMENT DIRECTOR

Candidates for the Investment Director role will have previously worked for a technology VC house and will have an investment track record. They are likely to have a science-based first degree and MBA and/or ACA qualification as well as being FSA Threshold Competent. The role will largely be based at EV's Manchester office.

INVESTMENT MANAGER

Candidates for the Investment Manager role will have a science-based first degree and could have a background in technology transfer, corporate finance, technology analysis or previous spinout company experience. Experience in working on medical products/innovations would be advantageous. This is an entry role into technology VC investing and will be based in the Yorkshire region.

In both cases, applicants must have the following key attributes:-

- Financially and technically competent
- Commercially aware with a sound level of judgement
- Sound project management skills
- Proven analytical and problem solving abilities
- Able to manage duties with some guidance and/or technical assistance from Fund Manager
- An effective networker able to positively promote EV and its funds under management and build a strong base with regional intermediaries and deal referrers
- A sound communicator, both written and verbally
- Able to build good relationships with investees, clients and contacts
- Energy, enthusiasm and a keen interest in the early stage technology space

FUND ADMINISTRATOR

The Fund Administrator will provide support to the EV Tech investment team in all areas of financial management and control, in particular, to ensure the efficient planning and execution of day-to-day administrative functions of the investment team within the business. The role will involve collection of data, maintaining databases, report writing and basic accountancy / fund management work. Candidates must have strong Execl modelling skills and ideally have an accountancy qualification. Relevant experience in the financial services sector is not a requirement but would be useful. The role will be Yorkshire-based.

This is an outstanding opportunity to join a growing and independent specialist fund manager.

Attractive package including benefits.

Interested candiates for all positions should send a copy of their full current CV (and where relevant, a copy of their investment record) and details of current remuneration package to Deborah Moon at EV by email at dm@evgroup.uk.com or by post to EV's head office at PTMC, Marsh Lane, Preston, PR1 8UQ.