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10th January 2007
CAT.43
CATAPULT LAUNCHES NEW £30 MILLION INVESTMENT FUND
Catapult Venture Managers has launched its new £30 million investment fund. The Fund’s, geographical focus is primarily the Midlands, but can invest nationally.
It has the remit to invest in growth orientated SMEs with a requirement for up to £2m of development capital or finance to facilitate a change of ownership (i.e. an MBO or an MBI).
Rupert Lyle, director responsible for the Fund, commented: “There are many excellent companies out there needing funding to enable them to develop their businesses to the next stage of development. I believe the Catapult Growth Fund fills a huge gap at the £1m to £2m equity investment level.
“We secured our funding commitments in July and have therefore been anticipating this launch for some time with some active pre-marketing. As a result, we already have a significant and interesting deal flow. This means that in addition to agreeing the mountains of legal paperwork required for a new fund of this nature, I have been covering our extended patch meeting companies that require the sorts of finance available from the new fund.
“In particular, the quality and level of inquiries in the Midlands has been very encouraging. The region has some first rate management teams running some great businesses. Some of these businesses, although an SME today, have the potential to be the stars of tomorrow and it is these businesses that we would like to support.
“Now that our ‘doors’ are officially open for business we expect to receive many more inquiries, particularly as the media spotlight falls on the new fund. What I would really like to see is that the advisers in the region get behind this fund, not only as a fee generation opportunity, but as an opportunity to help sculpt the regions future corporate successes.”
Rob Carroll, managing director of Catapult Venture Managers commented:
“We are delighted to have recruited someone of Rupert’s calibre to oversee the new Fund. Already, over the past few months, his existing contacts and networking strengths have brought many very good companies seeking investment to the business.
“The addition of the Catapult Growth Fund to our portfolio has been a very welcome development for us. It takes the total funds under our management to £80m and giving us the capability across the funds of investing between 100k and £2m.
Cont…/
“Clearly, we are delighted at the confidence that the SBS (Small Business Service), DTI and East Midlands Local Authority Pension funds for Nottingham, Leicestershire, Northamptonshire and Derbyshire have shown in us.”
Legal advisors to Catapult Venture Managers on the new Fund were Keeble Hawson. Partner Jim Gervasio commented: “This is the third fund launched by Catapult in which we have acted and we were delighted to work with Rob and the team following their successful ECF bid.”
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For further information please contact Rupert Lyle at Catapult Venture Managers on 0870 116 1600 or 07799 587568; or Rob Carroll at Catapult Venture Managers on 0870 116 1600 or 07976 226252.
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