Herald Investment Management Limited manages two venture capital funds investing in unquoted companies in the technology, communications and media sectors (specifically excluding biotechnology and pharmaceuticals):
- Herald Ventures I – raised in September 1999, this £20.25m fund is fully invested in 20 companies across the TMT sectors. Initial investments were between £250,000 and £1.5m. The fund made its last investment in 2004. As of 31 August 2011 (date of the last audited accounts) the fund has generated an IRR of 3.6%; a return that exceeds the BVCA Venture Fund Vintage and the FTSE All Share return for the period. The fund has been extended until 2022.
- Herald Ventures II – a final close was held in June 2005 for £30.5m. The fund makes investments of between £250,000 and £3m, with the potential for further follow-on funding, in companies in the TMT sectors.
Both funds invest only in the UK, and normally only for new capital rather than to buy out existing shareholders. They are prepared to lead or follow in an investment syndicate, or act as sole investor. Herald Ventures will generally take a minority stake in its investee companies, and will normally seek board representation and other terms typical of a venture capital investment.
Herald Ventures intends to use a pro-active approach to the exit strategy, using both trade sales and the public markets to realise its investments. In particular, it is expected that industry contacts made by the existing team at HIML, the manager of Herald Ventures, will be utilised to aid in the exit. This will ensure that realisation opportunities are not limited to the UK, but can be effected on a global basis.How to invest
The funds are closed to new investors
Herald Ventures is looking for early stage companies with high growth potential, requiring development capital. Typical investments will be between £250,000 and £3 million, although for larger financings Herald can introduce other suitable investors. Herald will, if required, provide valuable ongoing management input to assist in the long-term growth of the company, usually taking Board representation.
For further information, please contact:
Telephone 020 7553 6300
Fax 020 7490 8026
For general enquiries, please telephone 020 7553 6300.
Please send business plans and investment proposals to;
Herald Investment Management Ltd
10-11 Charterhouse Square
+44 207 553 6300