Investor aiming high for future

CAPITAL: Jonathan Diggines
CAPITAL: Jonathan Diggines
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Businesses backed by the SME investor Enterprise Ventures raised over £86m on AIM in 2015 – demonstrating the quality of its maturing, early stage portfolio.

Enterprise Ventures, which has its head office in Preston, now has eight listed companies in its portfolio.

That follows the flotation of two Liverpool-based biotech businesses – Redx Pharma which raised £15m when it joined AIM in March 2015; and Evgen Pharma which raised £7m in October.

Six more Enterprise Ventures portfolio companies raised over £64m between them through AIM share placings in 2015.

Jonathan Diggines, Chief Executive of Enterprise Ventures, said: “Over the past decade we have supported some of the UK’s most exciting technology businesses – mainly in the North of England.

“We backed them right from the start, often when they were just an idea – the toughest time to attract funding. Having helped to lay the foundations, the resurgence of the public markets is now enabling us to attract new capital, to build scale and to bring new technologies to market.”

During the year Enterprise Ventures also achieved a number of successful exits.

They included St Helens-based TransGlobal Payment Solutions, which provides online foreign exchange services and was acquired by the outsourcing giant Equiniti; and London-based IMC, which provides international development services for sovereign governments and aid agencies and which was sold to its management team.

In Lancashire, Enterprise Ventures backed the £1.4m acquisition of W S Rothband of Haslingden, suppliers of X-ray protection equipment.

Enterprise Ventures has a current portfolio of 375 companies.