£10m venture
Prelude Trust, the investment trust that specialises in early stage, technology-based businesses has established a new joint fund with Cambridge Consultants.
, the investment trust that specialises in early stage, technology-based businesses, managed by Esprit Capital Partners, has announced the establishment of a new joint fund with
.
Prelude and Cambridge Consultants will commit an initial £2.5m each to the fund, to be drawn-down over the life of the fund. The fund size will be of up to £10m.
The aim of the new fund is to invest exclusively in Cambridge Consultants’ own new ventures, following the company’s success in this arena. The first new venture is expected to appear in 2007. Candidates for the next batch of ventures are expected to come from a range of Cambridge Consultants’ core markets, including wireless technologies, drug delivery, diagnostics, radar and electronics.
The creation of the fund supports Cambridge Consultants’ move to restart its spin-out activities after a four year gap and will be used to invest exclusively in its own technology ventures. Four of Cambridge Consultants’ spin-outs have created value in excess of £1bn in the last seven years.
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