Envestors deal backs Squease

RNS Number : 4708E

Braveheart Investment Group plc

31 May 2012

 



31 May 2012

Braveheart Investment Group plc

Envestors deal backs Squease vest for people with autism

Braveheart Investment Group plc ('Braveheart', the 'Group' or the 'Company') (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, announces that Envestors Limited, its wholly owned subsidiary, has closed an equity fundraising for Squease Limited.

The funding was arranged for Squease, a supplier of an award-winning therapeutic garment that helps individuals with autism better deal with anxiety, by Rising Stars, Envestors' specialised service for early-stage businesses. Squease (www.squeasewear.com) is an inflatable pressure vest that delivers hug-like pressure to the upper body by inflating with air. Typically hidden inside a hooded top, the product is useable for long periods, mobile, fashionable and, in teaching wearers to self-manage anxiety, educational.

Using patent-pending inflatable technology, Squease enables wearers to self-administer a sensation of deep pressure, which is scientifically shown to help individuals with sensory integration issues. Squease has entered into a distribution agreement with a large international mail order catalogue supplier of special needs products.

The current design is specific to individuals with autism but can be used for individuals with ADHD, developmental delay, cerebral palsy, dementia and Down's syndrome. It can be activated anywhere, anytime and worn all day uninflated.

Envestors raised £125,000 from three investors in its network, one appointed a non-executive director of Squease. They include Mike Greene, the social entrepreneur and star of Channel 4's Secret Millionaire. A further £50,000 was provided by UnLtd, a charitable organisation set up by organisations that promote social entrepreneurship. Funds raised will be used by Essex-based Squease for working capital, hiring key staff and global IP protection.

Squease is the third transaction completed by Rising Stars following its launch in December 2011 in response to demand from Envestors' network of investors for high-quality, screened opportunities. Interest in early-stage firms is growing among business angels, spurred by Government incentives including the Enterprise Investment Scheme ('EIS') and Seed Enterprise Investment Scheme ('SEIS'), designed to boost wealth creation and employment. Envestors is seeing more applications from young firms as traditional providers withdraw from early-stage funding.

Originally a spinout from the Royal College of Art and Imperial College, Squease received seed funding from Innovation RCA, the incubation unit of the Royal College of Art.

Tom Billings, an Investment Manager at Envestors, said: "Squease is a highly innovative product that performs a social good and we're very proud to have provided the financial backing needed to help accelerate the growth of the business."

Sheraz Arif, CEO of Squease Limited, who has a background in engineering and investment banking, said: "We thank Envestors and its Rising Stars team for securing this deal."

Mike Greene added: "I put up my own money for Squease as this is exactly the sort of business I like to be involved in - one that brings positive change as well as financial rewards."

Envestors is pleased to hear from start-ups and early-stage firms, as well as private investors, wealth managers, accountants and lawyers who would like to know more.

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive [e-mail]

Tel: [phone]

Envestors Limited

Scott Haughton, Founder Director [e-mail]

Tel: [phone]

Squease Limited

Sheraz Arif

Tel: [phone]

Seymour Pierce Limited (Nominated Adviser and Broker to Braveheart)

Freddy Crossley (Nominated Adviser) Paul Jewell, David Banks (Corporate Broking)

Tel: [phone]

Merchant Securities Limited (Joint Broker to Braveheart)

Lindsay Mair Catherine Miles

Tel: [phone]

Media enquiries:

Allerton Communications

Peter Curtain [e-mail]

Tel: [phone]

Notes to Editors:

Braveheart Investment Group plc

Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart has a demonstrable track record in investing, an established client base and various funds under management.  The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.

Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.

www.braveheartinvestmentgroup.co.uk

Envestors Limited

Envestors enables investors to source dynamic unquoted companies in need of growth capital.  Comprising high net worth private investors, family offices, funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).

Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraising through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.

Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a subsidiary of Braveheart Investment Group plc.

www.envestors.co.uk

Rising Stars

Rising Stars, the Envestors service focused on early-stage businesses, has been developed to connect investors from the Envestors network with promising, early-stage companies seeking equity funding. These firms are likely to be attracted by a sound source of funding at a time when raising funds for growth presents a particular challenge, and when a number of tax incentives have been introduce to encourage angel investing. Rising Stars is a specialised service, offered to qualifying clients by Envestors in addition to its high-growth companies practice. Its partners in Rising Stars are The Royal Bank of Scotland, RSM Tenon and Nabarro.

www.envestorslondon.co.uk

 

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