With this investment, we will help to define the global ECoG sector
Glasgow, Scotland (PRWEB) August 15, 2009
Maven Capital Partners ("Maven") as joint manager of the Capital for Enterprise Fund ("CfE Fund") has today announced its £1million investment in Vamosa, a provider of software and solutions for Enterprise Content Governance (ECoG).
The £75 million CfE Fund is a government initiative launched earlier this year to help small and medium size enterprises ("SMEs") in the UK gain access to the financial support required to bridge the funding gap caused by the credit crisis. In April 2009, it was announced that £60 million from the CfE Fund would be allocated to two separate £30 million funds, one of which is managed by Maven. A further £15 million is being managed as a co-investment fund by Capital for Enterprise Fund Managers.
The investment in Vamosa is one of the first investments to be made by the CfE Fund, and will support Vamosa's growth and development plans to become a leading, worldwide provider of Enterprise Content Governance (ECoG) solutions, the end-to-end process of creating, implementing and maintaining content quality standards.
With the recent launch of Check & Fix, the first web site content monitoring service that checks and automatically fixes errors, Vamosa is well placed to provide large businesses and Governments worldwide with solutions to implement content management and compliance policies.
"With this investment, we will help to define the global ECoG sector," said George Knox, Managing Director of Vamosa. "It is our vision for a Scottish business to ensure multi-national organisations and governments receive the highest return on investment from their content assets. Receiving this capital injection from Maven is a proof-point to the opportunities available to Vamosa."
Andrew Craig, Partner at Maven, said, "Vamosa is an innovative software and solutions provider and we were impressed with their strategy to become the pre-eminent provider of ECoG solutions to large corporations and governments across the world. This investment by the CfE Fund will provide Vamosa with the necessary growth capital to help the team achieve their strategic vision, and demonstrates the value of the fund in supporting ambitious UK businesses like Vamosa.
"We now have several CfE Fund opportunities in formal due diligence and hope to be in a position to announce a number of investments across the UK over the coming months."
Rory Earley, Chief Executive, Capital for Enterprise Fund Managers Ltd, said: "The fund is a key part of the Government's Real Help for Business programme, which is investing in sound businesses that have been hit by the credit crisis. This is a strong start for Maven and I am confident that we will see many similar good quality deals as the fund gains traction."
Key professionals involved in this transaction included:
- Maven Capital Partners - Andrew Craig, Gemma Hamilton
- DLA Piper, Glasgow - Neil Burgess, Stuart McMillan (Maven legals)
- PKF, Leeds - Mark Lister, Paul Airey (Financial Due Diligence)
- Calash, Aberdeen - Merlyn Gregory (Commercial Due Diligence)
- McClure Naismith LLP - George Frier, Colin Cant (Management legals)
- Oxygen Insurance Brokers, Glasgow - Jim Rutherford (Insurance Due Diligence)
- Armstrong Craven, Manchester - Sharon Davies (Management Referencing)
George Frier of Lawyers McClure Naismith LLP, who represented Vamosa, commented, "Growth companies need access to committed funds to realise their potential and the CfE Fund will be invaluable. We are delighted that our client Vamosa should be the first Scottish company to benefit from this initiative."
Notes to Editors
About Maven Capital Partners UK LLP
Maven Capital Partners UK LLP ("Maven") was formed in June 2009 when the senior executives of the private equity team at Aberdeen Asset Management PLC ("Aberdeen") led a management buyout to create a new independent private equity business.
The entire Aberdeen private equity team migrated across to Maven, bringing over 100 years' combined experience of investing in private companies to the new business. The investment strategy will continue to focus on private company investments and the management of client funds, including seven Venture Capital Trusts (VCTs), and Maven continues to manage funds on Aberdeen's behalf. The full back-office team that previously supported the Aberdeen and other third party client funds also moved to Maven.
At Aberdeen, private equity was a stand-alone and largely autonomous division. In the five years from 2004 the team built a specialist private equity and VCT business with a significant fund base, becoming recognised as one of the UK's most active SME investors, with around £54m of VCT client funds invested in 29 new private company transactions during that time.
Maven is a UK lower mid-market private equity firm, managing roughly £152 million of capital that the team previously managed at Aberdeen, and operates from offices in Aberdeen, Glasgow, Manchester, Birmingham and London.
Maven typically backs established and entrepreneurial management teams at private companies valued at up to £25 million, providing equity finance of £1 million to £6 million for management buy-outs, acquisition finance, replacement capital and development capital for private companies.
Completing on average 6 to 10 deals each year across the UK, and deploying around £25-35m in capital, Maven invests from a range of client funds, including VCTs and a syndicate of co-investors. For more information, visit http://www.mavencp.com.
Vamosa is a sector-defining software and solutions company specializing in the emerging area of Enterprise Content Governance (ECoG). Recognized as a global leader in ECoG, Vamosa is the only company that offers an integrated suite of products and services to manage the end-to-end process of discovering, transforming, deploying and maintaining content quality. Vamosa's solutions allow the world's largest enterprises and governments to analyze, enhance, standardize, monitor and maintain all forms of business content within a policy-based infrastructure of best practice methods. Organizations with Vamosa's ECoG solutions benefit from improved regulatory compliance, enhanced knowledge management and a lower Total Cost of Ownership (TCO) for content management. The Company has provided solutions and consultancy for content discovery, cleansing, migration and maintenance to some of the world's largest enterprises and government departments including Cable & Wireless, Vodafone, IBM, Oracle and Volkswagen North America. For more information, visit http://www.vamosa.com.
About the Capital for Enterprise Fund
The Capital for Enterprise Fund ("the Fund") comprises £75 million of equity, made up of £50m of Government funds and an additional £25 million from retail banks Barclays, HSBC, Lloyds TSB and RBS. The purpose of the fund is to provide equity and quasi equity of between £200,000 and £2 million to small- and medium-sized British companies with viable business models and growth potential in need of long term capital.
£60 million of the Fund is managed by professional experienced fund managers, Octopus Investments and Maven Capital Partners UK (formerly Aberdeen Asset Managers). Each company oversees the management of a £30 million fund. The remaining £15 million will be invested directly by, Capital for Enterprise Fund Managers, on a co-investment basis.
About Capital for Enterprise Limited (http://www.capitalforenterprise.gov.uk)
Capital for Enterprise Fund Managers Limited ('CfEFML') is a subsidiary of Capital for Enterprise Limited ('CfEL'), an asset management business that designs, implements and manages finance measures to support Small and Medium Size Enterprises ('SMEs') across the UK. CfEL is the largest single investor in UK Early Stage Venture Capital funds and manages guarantee programmes to support bank lending. With current investment commitments of over £365 million in 37 Venture Capital funds, together with its responsibility for the Small Firms Loan Guarantee scheme and the £1.3 billion Enterprise Finance Guarantee, CfEL has over £2.0 billion in commitments, assets and liabilities under management.
CfEL commenced trading in April 2008 and is wholly owned by the Department for Business, Innovation and Skills (BIS). The business is managed by an independent Board of Directors, drawn from across industry and finance, and has 14 full-time expert staff as well retaining specialist consultants and other professionals as required.
For Further Information Contact:
Vamosa PR - Danielle Cook, daniellec (at) noiseworks (dot) com, +44 (0)1628 628080
Maven Capital Partners - Steve Marshall, steve.marshall (at) mavencp (dot) com, +44 (0)141 306 7585
Maven Capital Partners - Andrew Craig, Andrew.craig (at) mavencp (dot) com, +44 (0)141 306 7464
Capital for Enterprise Fund Managers Limited - Sam Hardy, sam.hardy (at) champollion (dot) co (dot) uk, +44 (0) 207 131 3608