Business
Fund Launch
Fund Launch.
About this update from Truetide Plc
[{"type":"text","content":"\n Braveheart Investment Group plc\n18 June 2007\n\n18 June 2007\n\n Braveheart Investment Group plc\n ('Braveheart', or 'the Company')\n\n PARTNERSHIP WITH THE UNIVERSITY OF EDINBURGH TO CREATE £25 MILLION FUND\n\n Investing in commercial investment opportunities emanating \n from the University\n\nBraveheart (AIM: BRH), the technology commercialisation and investment\nmanagement company, and the University of Edinburgh, Scotland's largest\nUniversity ('the University'), announce the creation of a dedicated £25 million\nfund ('the Fund'), further extending the relationship between the two parties.\n\nWith a maximum value of £25 million, the Fund will have rights of first refusal\nto invest in all commercial investment opportunities that arise in respect of\ncompanies and intellectual property emanating from the University, other than in\nthe field of medicine, veterinary medicine and life sciences, where it may take\na co-investment position.\n\nThe Fund, which intends to generate attractive commercial rates of return for\nits investors, will seek financial commitments from a number of partners. It is\nanticipated that the first round of investment will close in the spring of 2008,\nand will involve cornerstone investors including Braveheart itself, the\nUniversity, Bank of Scotland and others.\n\nBraveheart will act as fund manager and will issue an information memorandum to\nprospective partners in early 2008. This is Braveheart's second such fund,\nfollowing the announcement in February this year of the £12 million Strathclyde\nInnovation Fund partnership with the University of Strathclyde.\n\nIn common with the Strathclyde fund, Braveheart will share 25% of its\nperformance bonus with the University. In addition, when an investment is made,\na payment will be made to the department which has sponsored the investment\nopportunity, thereby encouraging departments within the University to\nparticipate in the commercialisation partnership.\n\nThe Fund will have a life of eight years, comprising an investment period of\nfive years followed by a period of three years in which to monitor and manage\nexisting investments. There are options to extend the life of the Fund, up to a\nmaximum aggregate period of 10 years.\n\nBraveheart and the University's commercialisation arm, Edinburgh Research and\nInnovation will pool resources...