Foresight has invested £2 million investment as part of a £3.3 million round into award-winning novel thin film ultrasound technology company Novosound Ltd. 

The Foresight Williams Technology EIS Fund led the round, investing £1.5 million alongside £500,000 from the Foresight Scottish Growth Fund, financed by the Scottish Growth Scheme through a combination of Scottish Government funds and the European Regional Development Fund (ERDF), and £1.3 million from existing shareholders including Par Equity, Kelvin Capital, Gabriel Investments, the University of the West of Scotland, and the Scottish Investment Bank, the investment arm of Scottish Enterprise.

 WSR Medical Solutions Limited (‘Rothband’), a specialist manufacturer and distributor of x-ray protective equipment for use in radiology environments, has been sold via a management buyout led by company Managing Director and existing shareholder, Paul Dixon.

The UK Creative Content EIS Fund, launched this summer by Calculus Capital and Stargrove Pictures in association with the British Film Institute (BFI), has made its first investment. 

The fund, along with other Calculus funds, is investing in Wonderhood Studios, the creative business founded by former Channel 4 CEO David Abraham and senior partners from the TV production and advertising sectors. 

Wonderhood is introducing a new hybrid model as a TV programme maker and advertising agency supported by a third capability which provides data-led insights into audience behaviour.

Kuber the pioneering alternative fund investment platform offering access to EIS, SEIS & BR portfolios and funds has appointed James Ramsay as MD alongside Andrew Kartashov.

Independent games studio and virtual reality developer XR Games has secured a £1.5m funding round, led by Praetura Ventures alongside existing investor ACT Capital Partners.

Praetura Ventures, the firm committed to providing capital and support to early-stage businesses across the north of England, has invested from its EIS 2019 Fund and will now work closely with founder and CEO Bobby Thandi and his team as they execute the next stage of their growth strategy.

Blackfinch has invested in London-based company Movebubble, founded in 2014. Movebubble offers an app that lists properties available to rent, and helps manage the rental process, from booking viewings to moving into a property.

Movebubble has over 30,000 properties available to view in London and Manchester with real-time availability of all those listed.  The app uses data from its users to suggest suitable areas and properties, making it easier for people to find and secure a rental.

James Murdoch looks into his own portfolio and ponders the falling number of SEIS opportortunites compared to EIS investments. 

A survey of financial advisers¹ on Enterprise Investment Schemes (EIS) has found that the level of use has been consistent despite concern that rule changes brought in by the government as part of its Patient Capital Review² would stifle the market.  In the survey conducted by Great Point Investments, half (56%) of the advisers questioned said the number of clients using EIS has stayed the same in the last 12 months. Two thirds of advisers (67%) also said they expect to see the same level in the use of EIS by clients in the next 12 months. One in ten (10%) said they expect to see an increase and just over a fifth (23%) said they expect a fall.

Flarin Holdings Limited has completed its first round of fund-raising by IW Capital. Flarin Holdings was recently demerged from Infirst Healthcare Limited in order to provide greater focus on the rapid commercialisation of Flarin.  Flarin is a unique and patent protected lipid formulated ibuprofen which at a dose of 1200 mg/day has shown to be as effective as 2400mg/day of standard liquid ibuprofen capsules in patients with acute joint pain. Flarin’s unique lipid formulation also helps to shield the stomach from damage.

Par Equity, the leading Scottish EIS Fund Manager, has appointed former Olympic skier Andrew Noble as a Partner.

Specialist eCommerce platform Online Poundshop Ltd has secured considerable investment from venture capital firm Midven, allowing the company to upgrade current warehouse systems, and create a range of new positions across the business – including marketing and distribution roles. The investment has come from the £35m West Midlands equity portion of the Midlands Engine Investment Fund (MEIF).

Foresight Group has made its thirteenth investment from the Foresight Williams Technology EIS Fund into Additive Manufacturing Technologies Limited, a developer of technology designed to unlock the potential of industrial additive manufacturing.  The investment is part of a £4.2 million round led by DSM Venturing.  Sheffield-based AMT was founded in 2017 by CEO Joseph Crabtree.  It was set up with the aim of developing industrial technologies to enable the deployment of 3D printing for mass production, especially to address the shortcomings of existing post-processing technologies.