Graham Mold, Director of Catapult Venture Managers, commented: “Market conditions are particularly tough and players operating in the £10m plus arena have seen deal flow come to a virtual standstill as the banks pull back from lending.

“VCs in the sub £2m market – like Catapult – have continued to invest during this time, but there is no denying how tough the market is. After completing 14 deals in 2008, Catapult has completed two new investments and a number of follow-up transactions in the first half of 2009.

“Our doors are open for business and we want to hear from Midlands’ companies looking for investment to take their enterprises to the next development stage.”

Catapult, which has offices in Birmingham and Leicester, has £80m in funds under its management and seeks equity investment opportunities from 200k to £2m for growing businesses.

Graham Mold added: “We enjoyed a record breaking year in 2008, bucking the gloomy economic outlook in the second half of the year and the credit crunch by completing nearly 30 transactions during the year.

Ray Harris, Investment Director at Catapult’s Birmingham office, takes up the story. “Our transactions during the fourth quarter included a major investment of £850k into Key Technologies as part of £1.8m being raised through flotation on virtual trading platform Investbx.

“We also invested £350k of an £800k funding round into Birmingham-based Comply Serve Limited, developers of a unique web-based project compliance management system geared to large engineering and construction projects. Catapult also introduced Richard George as Non-Executive director of the business.”

“Over the past two years we have undertaken 19 transactions in the West Midlands from the Advantage Enterprise & Innovation Fund (AEIF) which is funded by Advantage West Midlands and the European Regional Development Fund.”

Graham Mold concluded: “Our Birmingham office would like to hear from companies seeking investment. We have a very strong and experienced team that can help owners develop their businesses.”

For further information please go to: www.catapult-vm.co.uk or email Graham Mold at graham@catapult-vm.co.uk or telephone Graham on 0121 616 0180.

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For further information contact Graham Mold at Catapult Venture Managers on 0121 616 0180 or 07768 148187 or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 505322



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