The Newable Ventures Scale Up Fund 2 (“SUF 2) has successfully completed its year-long investment cycle. The fund, which was raised in April 2018, has invested £1m into a diverse portfolio of early stage companies spanning the materials, spacetech and software sectors. Investee companies were based across the U.K (Newcastle, Oxford, Cambridge, Bristol and London) and round sizes ranged from £500k to £2.8m. The fund which was able to leverage Newable Group’s wider office space and advisory service offerings, targeted scale up companies where technology risk had been mitigated and capital was being used to ramp up commercial operations.

The fund made investments into the following companies

• Atelerix – a Newcastle based developer of a transformative technology for the storage and transportation of cells at room temperature
• Cognism – a London based AI powered lead generation software that finds and ranks sales opportunities and provides contact information/timeline of key company events
• Echion – a Cambridge University spin out developing a portfolio of advanced battery active materials
• Inductosense – a Bristol University spin out developing innovative ultrasonic sensing technology for non-destructive testing of structures
• Rezatec – a Harwell based company developing earth observation and geospatial analytics software tools
• The Electrospinning Company – a Harwell based company that designs, develops and manufactures nanofiber bio materials for tissue regenerative devices

Michael Walsh, Newable Ventures managing director, comments, “we are delighted that our Newable Scale Up Fund 2 has backed 6 of the UK’s most innovative high growth scale up companies. Newable Ventures has now deployed 9 EIS funds into some 50 companies, many of which such as City Pantry, Hopster and Blu Wireless Technologies have become some of the U.K’s leading venture backed companies. On the back of this success and established track record, we have now launched our Scale Up 3 evergreen fund which seeks to invest in a portfolio of technology driven scale up companies. With the first quarterly close for this fund set to take place on April 5th we will shortly be entering this new fund’s deployment cycle.”

CAPITAL AT RISK