Bank of Scotland and Thames Valley Investment Network launch £2 million Co-Investment Programme
Bank of Scotland Corporate's Growth Equity team and Thames Valley Investment Network (TVIN) have launched a Co-Investment Programme that will provide a new source of funding for innovative companies. TVIN selects and introduces high growth technology companies from across the UK to its network of business angels and corporate investors in the Reading and Thames Valley area in order to help them raise equity funding, and has a particular focus on the media and green tech sectors.
The Bank of Scotland's Growth Equity team typically makes equity investments of between £1M and £7M across a range of sectors. These investments are made directly from the Bank's balance sheet, not from a fund, which gives the Bank more flexibility.
Under the terms of the Co-Investment Programme the Bank has made available £2 million to invest during 2008 alongside investor members of TVIN, and its sister investment networks, Oxford Investment Opportunity Network and Oxford Early Investments. The Bank will typically invest from £25,000 to £250,000 per deal, with all investments being made on exactly the same terms as TVIN's investor members.
This innovative arrangement provides the Bank with an outstanding opportunity to invest in high growth companies and to establish relationships with high net worth investors. Most importantly, it further enhances Bank of Scotland Corporate's reputation as the bank for entrepreneurs.
Commenting on the deal, Malcolm Kpedekpo, Associate Director of Bank of Scotland Growth Equity,
said:
"This exciting deal opens doors for Bank of Scotland Corporate. We now have access to entirely new
networks of investors, as well as being able to fund high growth companies. In a country which is built on
entrepreneurship, we're determined to play our part in helping the entrepreneurs of today and tomorrow to
realise their ambitions and to create jobs and growth."
L-R: Don McLaverty (Director, Oxford Investment Opportunity Networks Ltd), Malcolm Kpedekpo (Associate Director, Bank of Scotland Growth Equity team) and Nicki Hattingh (Manager, Thames Valley Investment Network)
Nicki Hattingh, Manager of Thames Valley Investment Network, said:
"We are delighted that Bank of Scotland Corporate has entered into this innovative arrangement with TVIN. It
speaks volumes for the success of our TVIN Network that an institution like the Bank is eager to be so deeply
involved. We have an extremely solid Network of over 100 active angels who have a superb track record of
investment, and our co-investment model with the Bank, which enables it to act as a 'super angel investor'
alongside our angels, can only be good news for the innovative companies from across the UK who raise
funds through TVIN."