Investments
| WM Enterprise's Investment Division provides venture capital to the Midlands, North West and South East of England. It is an independent niche equity investor in SMEs, providing the finance and post investment support, crucial to success. To date, WM Enterprise* has raised over £90m and has invested more than £50m. |
| Funds Under Management | |
WM Enterprise is currently managing / advising four funds across England. The funds are summarised in the table below and further details on each fund is provided beneath with links to the website for each fund. |
|
Fund |
Investment Size |
Investment Area |
Fund Value |
Seed up to £700k |
West Midlands |
£12.8m |
|
Up to £250k‡ |
South East |
£30.0m |
|
Up to £250k‡ |
North West |
£35.5m |
|
£2m to £8m |
National |
£22.0m† |
|
| † This is a national fund being invested by 3 regional managers. Each has access to 1/3rd of the fund's £66m total capital. ‡ Initial investment size is up to a maximum of £250,000 but a further £250,000 can be invested after 6 months. |
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| Mercia Technology Seed Fund | |
| The Mercia Technology Seed Fund specifically target high growth, patented technology-backed ventures based in the West Midlands region.
The fund typically invests in opportunities that are post proof of concept, often pre-revenue but with demonstrable commercial interest in the technology under development. The fund invests between £50k and £250k, with the potential to invest up to 700k. Key sectors of interest to the fund include: Medical Health Care Technologies, Advance Materials; Environmental Technologies, ICT and Transport Technologies. |
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| South East Growth Fund (SEGF) | |
The South East Growth Fund (SEGF) is another of our Regional Equity Gap Funds and is aimed at providing Risk Capital to SMEs in the South East. The fund has a 10-year life and is expected to invest in up to 100 companies over this period. The fund considers investments in a wide variety of manufacturing and service sectors at any stage of the business cycle. Initial tranches are limited to £250k, with subsequent investments possible up to a normal maximum investment of £500k. As of May 2007, 85 investments have been made into 41 separate companies operating in the South East of England. This comprises Kent, East Sussex, West Sussex, Surrey, Hampshire, Oxfordshire, Buckinghamshire, Berkshire and the Isle of Wight. For further details visit the SEGF website www.segrowthfund.co.uk or contact the team on 01883 337111. |
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| North West Equity Fund (NWEF) | |
| The North West Equity Fund (NWEF) is one of the regional equity gap funds and provides Risk Capital to North West SMEs looking to achieve significant growth. NWEF has a 10-year life and is expected to be fully invested by 2008. The fund considers investments in a wide variety of manufacturing and service sectors at any stage of the business cycle. Initial tranches are limited to £250k, with subsequent investments possible up to a normal maximum investment of £500k. Over recent years there has been a shift in emphasis by UK providers of Risk Capital towards larger transactions. As a result, businesses seeking smaller amounts (up to £500,000) have encountered great difficulty in raising funds. It is this ‘Equity Gap’ that the NWEF seeks to fill. As of May 2007, 87 investments had been made into 33 separate companies. The Fund covers the North West of England which comprises Greater Manchester, Merseyside, Cheshire, Lancashire and Cumbria. For further details visit the NWEF website www.nwef.co.uk or contact the team on 01925 759246. |
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BEGF is sponsored by NCM Management (UK) Ltd and is a national fund. WM Enterprise is one of three advisors responsible for the fund and handles one third of the money. WM Enterprise is responsible for the Central England region, being the area from Bristol, Oxford and Norwich in the South and from Lincoln to Chester in the North. The fund is structured as a limited partnership and in June 2005 BEGF's primary investment period ceased. The focus is now on managing out the remaining portfolio. |
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The Investment Team The Investments division currently employs 12 full time executives and also employs a number of other executives on a part time basis. |
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| Mark Payton | Investment Executive | Mercia Technology Seed Fund |
| Mark Bowman | Investment Executive | Mercia Technology Seed Fund |
| Tim Hazell | Investment Executive | Mercia Technology Seed Fund |
| Derek King | Investment Executive | South East Growth Fund |
| Jason Gould | Investment Executive | South East Growth Fund |
| Geoffrey Doyle | Investment Executive | South East Growth Fund |
| David Fisher | Investment Executive | South East Growth Fund |
| Avent Bezuidenhoudt | Investment Executive | South East Growth Fund |
| John Hardcastle | Investment Executive | North West Equity Fund |
| Angela Warner | Investment Executive | North West Equity Fund |
| Jason Austin | Investment Executive | North West Equity Fund |
| Simon Thelwall- Jones | Investment Executive | North West Equity Fund |
| * WM Enterprise is a trading name of West Midlands Enterprise Ltd. West Midlands Enterprise Ltd is authorised and regulated by the Financial Services Authority in the conduct of its Investment Business | ||