20th February 2007
CAT46
CATAPULT TO RELOCATE AS GROWTH CONTINUES
Catapult Venture Managers is to relocate its East Midlands office from BioCity in Nottingham to Leicestershire in late February 2007.
“There are a number of reasons behind the move to Leicestershire,” explains managing director Rob Carroll, “but the decision to relocate has not been an easy one. I have lived in Nottingham since 1992 and have a great affinity with the city, which is a great place to live and work.
“BioCity has proved to be a wonderful ‘launching pad’ for many companies, including ourselves, and has played a major part in the re-emergence of Nottingham. We have funded several biotech companies operating from here including Critical Pharmaceutical, Monica Healthcare and FDAS (Food and Drug Analytical Services).
“However, Catapult has expanded considerably in recent years and we have been looking for bigger offices for some time, to take into account also our anticipated future growth. It’s been a hard call, but we have decided that Leicestershire is perhaps more central to the broader East Midlands region.
“Whilst a change of location was principally brought about by our growth, Catapult will continue to build on the presence that we have created in Nottingham among companies and business advisors. The city will continue to prosper and we want to be a catalyst in helping to boost the local economy,” he said.
Catapult was set-up in 1999 and now has £80 million of funds under its management. The East Midlands office manages both the £30m East Midlands Regional Venture Capital Fund, and the newly awarded £30m Midlands Enterprise Fund, operating under the name of the Catapult Growth Fund.
The Birmingham office manages the £20 million Advantage Enterprise & Innovation Fund jointly funded by Advantage West Midlands and the European Regional Development Fund.
Rob Carroll commented: “There is a concerted effort by all concerned to support the regional economic strategy. The East Midlands has great strengths in a number of sectors including healthcare, motor sport (Northampton International Raceway), a buoyant food and drink sector supported by the East Midlands Food and Drink Forum and Southglade Food Park; and the aerospace industry, including such players as Rolls Royce, Smiths and Goodridge.
“Clearly BioCity has played a major part in the re-emergence of Nottingham. This groundbreaking healthcare and bioscience innovation and incubation centre is the largest of its kind in the UK.
“The East Midlands has an excellent community spirit and working together we can enhance and grow the regional economy,” he concluded.
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For further information please contact Rob Carroll at Catapult Venture Managers on 0870 116 1600 or 07976 226252; or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 505322.
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