BUSINESS ANGEL SYNDICATE MAINTAINS 2008 INVESTMENT LEVELS
Borders-based business angel syndicate TRI Cap has maintained investments at 2008 levels during the first half of this year, with £0.5 million committed by members to a total of seven high-growth businesses.
First round funding was provided for three new investments – IRT Surveys, Centeo and NovaBiotics – alongside follow-on funding for existing interests Gas Sensing Solutions, Lamellar, PowerPhotonic and Lab 901. In all – along with funding partners and the Scottish Co-Investment Fund – these companies raised more than £4 million.
Robert Dick, TRI Cap chairman, feels TRI Cap members are demonstrating significant continued commitment to the Scottish investment sector in the face of difficult times:
“We are very grateful to our members who continue to provide the funding and support needed by our existing portfolio and also by new investee companies,” he said. “We know that many businesses are experiencing challenges in accessing debt funding, and this is reflected in the increasing numbers of business plans we receive. As a relatively small player in this sector, however, we have been successful in maintaining a steady deal flow in businesses across a range of sectors.
“The research we carried out among members at the end of 2008 indicated continued commitment to investing, and I am pleased this has been borne out in practice.
“We pride ourselves in offering our investee companies more than simply cash,” he concluded. “We have some very experienced members who become involved with the companies in which they invest, and this expertise should make a considerable contribution to the success of these businesses.
TRI Cap’s 50 Core and Club members invested more than £1million during 2008 and there continue to be many opportunities for additional investments in the coming months.
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2 SEPTEMBER 2009
Issued on behalf of TRI Cap by Prior PR.
For further information contact Eileen Prior on 01721 729322 or 07802 180 412, or email eileen.prior@priorpr.co.uk