Expansion for South West Ventures Fund as Investment Manager joins the team
26th March 2007
The YFM Group has appointed Nick Simmonds as Investment Manager to strengthen the Bristol team that manages the South West Ventures Fund (SWVF).
Nick’s appointment brings the number of investment managers in Bristol to 4 and reflects both the scale of the fund’s existing portfolio and the opportunities for further investment. In the past 16 months South West Ventures Fund has invested nearly £3 million in 11 companies in the South West.
A biology graduate with an MSc in Technology and Innovation Management, Nick has spent most of his career in venture capital and management consultancy specialising in the pharmaceutical and healthcare sectors. Prior to joining the Bristol office of the YFM Group he worked as an Investment Manager for NESTA, the National Endowment for Science, Technology and the Arts for five years.
Speaking about his appointment Nick said: “I am delighted to have joined YFM Group. I was attracted primarily by the quality and ambition of the people in the Bristol team and by the excellent range of investment opportunities in the region. The South West has a vibrant SME community and has strengths in new growth industries, particularly in technology sectors. We have a real determination to play a vital role in the region’s on-going prosperity.”
Nick added: “The Fund has reached an exciting stage; the team has already built a portfolio of highly promising growth companies across a variety of sectors. We will develop this further over the next few years by focusing on quality management teams and companies that can demonstrate a real competitive advantage”.
At the YFM Group, Nick will have responsibility for making and managing investments on behalf of South West Ventures Fund. This work includes identifying suitable opportunities, evaluating their potential and, once an investment has been made, working in partnership with management teams to help them achieve their commercial objectives.
Explained Nick: “The relationship with management is key; we seek to develop an open line of communication with the people we invest in. This provides added value for the client because as they receive management guidance, as well as funding.”
The £25m South West Ventures Fund can invest up to £500,000 as a sole investor and potentially up to £2.5m alongside other investors. Recent investments have helped businesses in a number of sectors including technology, leisure, healthcare and business services.
ENDS
NOTES TO EDITORS:
YFM Group - South West Ventures Fund
YFM Group – is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. Principal offices are located in Leeds, Manchester, London and Bristol with over 40 investment professionals being employed across the UK.
The YFM Group managed South West Ventures Fund is a £25M fund that has been set up to provide venture capital to small and medium sized enterprises (SMEs) based in the South West of England. Initial investment can be up to £250,000 with an ability to invest a further £250,000 after six months. In certain circumstances, alongside other new investors, the Fund can follow on its investments to provide a total of £2.5 million to one company. To date the fund has invested £3.25m in 15 companies.
South West Ventures Fund is managed by YFM Venture Finance Limited part of the YFM Group. YFM Venture Finance Limited is authorised and regulated by the Financial Services Authority.
For further information about YFM Group and South West Ventures Fund, please telephone 0117 906 3410, log on to www.southwestventuresfund.co.uk or email info@southwestventuresfund.co.uk