Award of fund management contract

RNS Number : 0426F

Braveheart Investment Group plc

11 June 2012

 



11 June 2012

Braveheart Investment Group plc ('Braveheart' or 'the Group')

Fund Management Contract Award

Braveheart Investment Group plc (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, is pleased to announce that, subject to contract, it has been awarded a mandate to manage the Lachesis Fund ('the Fund' or 'Lachesis').  Lachesis is the university seed fund for eight universities in the East Midlands. 

Established in 2002 as a Limited Partnership under the University Challenge Seed Fund ("UCSF") Scheme, the Fund totals £10.25m and involves supporting seed stage technology investments from the following partner universities:  De Montfort, Derby, Leicester, Loughborough, Lincoln, Northampton, Nottingham and Nottingham Trent.

As the newly appointed fund manager, Braveheart Ventures Limited, a wholly owned subsidiary of the Group, will partner with Advantage Early Growth Limited in providing support, mentoring and business development services to the Lachesis portfolio companies in addition to providing fund administration services.  The contract is for a minimum of two years and Braveheart will be partly remunerated on results. 

Geoffrey Thomson, Chief Executive of Braveheart, commented: "We are delighted that the universities have selected us as their preferred partner for this role.  Over the years we have worked with many university spin-outs and we look forward to assisting the Lachesis portfolio companies with their growth aspirations whilst providing the required governance for the Fund." 

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

Seymour Pierce Limited (Nominated Adviser)

Freddy Crossley David Banks (Corporate Broking)

Tel: [phone]

Merchant Securities Limited (Joint Broker)

Lindsay Mair Catherine Miles

Tel: [phone]

Media enquiries:

Allerton Communications

Peter Curtain [e-mail]

Tel: [phone]

Notes to Editors

Braveheart

Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building portfolios for business angels, high net worth individuals, family offices and public sector organisations. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fifteen years on, Braveheart is a public company with a demonstrable track record in SME investing, an established client base and various funds under management.  The Group has offices in Perth, London, Yorkshire, Jersey, and the Isle of Man, with franchises in Dubai and Manchester.

For more information: www.braveheartinvestmentgroup.co.uk

Advantage Early Growth Ltd (AEGL)

AEGL manages the £10m Advantage Early Growth Fund in the West Midlands a government and ERDF financed venture capital fund that co-invests with over 500 private investors.  Over the past 8 years AEGL has invested in and mentored 63 early stage businesses.  AEGL will be moving to an office near Ashby-de-la-Zouch in July from which to manage its involvement.

 

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