Member Article

Investment house undergo “transformation”

Investment house, Braveheart Investment Group plc, has completed a “transformation” following a successful contract win and a key acquisition.

The Group took over Neon Capital Partners Ltd, manager of the £48m Finance Yorkshire Equity Fund, and has been appointed to manage £50m Growth Loan Fund in Northern Ireland, in partnership with NEL and Clarendon.

In a preliminary results statement for the year ended March 31, the Group said investment management and consultancy fee income increased 37% to £1,265,000, from £926,000.

Despite this, the company reported loss before tax, including unrealised portfolio movements, of £1.7m.

During the year, Braveheart was awarded the fund management contract for £10m Lachesis fund, a University Challenge Seed Fund; and Braveheart’s investor network, Envestors, led £2.4m financing for client companies.

Garry S Watson OBE, Chairman said: “Two things have moved us forward significantly this year. Firstly the successful consortium bid to manage a £50 million growth loan fund aimed at supporting small to medium sized enterprises in Northern Ireland. Secondly the acquisition of Neon Capital Partners, which manages the £48 million Finance Yorkshire Equity Fund. With regard to the portfolio, we remain confident of material realisations in a more benign business climate.”

Geoffrey C B Thomson, Chief Executive Officer added: “This year has seen a major transformation of our business and we are now an SME focussed fund and services management provider. The next few years will see us consolidate our market position as a leading manager of equity and equity linked products to the SME market.”

This was posted in Bdaily's Members' News section by Tom Keighley .