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Presentation for Yorkshire Universities Proof of Commercial Concept Fund Leeds, 5 March 2008

Presentation for Yorkshire Universities Proof of Commercial Concept Fund Leeds, 5 March 2008 Andrew Burton Managing Director. What is it?. £5.0m, co-investment fund For early-growth, technology-based companies Yorkshire and The Humber region only To be matched £ for £ by business angels

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Presentation for Yorkshire Universities Proof of Commercial Concept Fund Leeds, 5 March 2008

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  1. Presentation for Yorkshire Universities Proof of Commercial Concept Fund Leeds, 5 March 2008 Andrew Burton Managing Director

  2. What is it? • £5.0m, co-investment fund • For early-growth, technology-based companies • Yorkshire and The Humber region only • To be matched £ for £ by business angels • Four years into a ten year life • £1.4m more to invest (£1.1m in 2008/09) • Viking Club, co-investment angels

  3. How does it work? 10 to 30 Members Private Angel Investors Deal Flow Direct investment (£) Direct investment (£) Matching investment (£) DTI £5.0m repayable grant Investee Company

  4. Max. Equity raised in Round £250,000 £200,000 > £100,000 £100,000 £100,000 Viking territory! Viking Fund Private Funds Maximum £400,000 (fully matched) in any one company (to prevent dilution) Private Funds (£75k) Viking Fund Viking Fund (£75k) Target Maximum First Round Investment Investment All Rounds

  5. What do we look for? • Potential for 10x growth in value over 5 years • Defensible IP, compelling proposition • Management team – qualities/mix/experience • Commitment – foregone, investment, effort • Reference trials, user belief, customer need • Sales prospects pipeline, tactical plan • Tight cash management • Development roadmap

  6. The story so far .. • Launched in June 2004 • 275 applications • 36 investments, incl. 16 follow-on rounds • £2.6 m invested by Viking Fund • £3.4 m matching angel investment • 92% in equity, 8% in loans • One AIM float • Three at major VC fund raising • One investment (£25k) written off

  7. Viking Fund Statistics

  8. Portfolio Sector Split

  9. Portfolio Location

  10. Scensive Technologies Ltd.

  11. How does Viking add value? • Syndicate leader for business angels • Equity has given comfort for loans and grants • Non-executive support, board governance • Fund establishes a discipline of reporting • Lead investor on most second rounds • Patient investor, continuity, exit strategies • Portfolio offers inter-company linkages • We like to build long-term relationships

  12. Andrew Burton Managing Director Tracey Smith Operations Manager 01924 227237 Metic House Ripley Drive Normanton West Yorkshire WF6 1QT www.vikingfund.co.uk

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