14 analysis
Envestors Limited
This month, Finance Monthly speaks to Scott Haughton, Founder Director of Envestors Limited, an award winning investor network dedicated to helping investors source young dynamic companies in need of growth and expansion capital. Here, he discusses fundraising and his recent involvement in an equity fundraising round for Chargemaster.
Q
You recently completed a £2.7m round of equity fundraising for Chargemaster, a specialist in the provision of power to electric vehicles. Can you discuss the investment?
Yes, further to an initial £1.8m investment that we raised for Chargemaster in January 2011, Envestors are pleased to have closed a further £2.7m, with a total of £1.98m coming from members of the Envestors Private Investor Network. Envestors Private Investors have been very impressed with the
Chargemaster team, who have more than 25 years' experience of developing and managing telematics and motoring orientated infrastructures. With annual revenues of £3.5 million, the company is experiencing strong demand as motor manufacturers develop electric cars and plug in hybrids. The company's charging posts include single, dual and fast charge solutions, and units for home use. The funds will be used by Chargemaster to finance the rollout of
POLAR, its network of vehicle charging bays. Some 4,000 sites are planned over 18 months to serve 100 major towns and cities throughout the UK. POLAR sites are currently being installed, initially across the South of England.
Q
2011 was billed to be an important year for fundraising. At this point in the year, how would you describe the fundraising environment?
Certainly the market for fundraising is very tough. However, Envestors Private Investor Members have continued to display a strong appetite to invest in experienced management teams with innovative, scalable propositions that offer realistic trade sale exit opportunities within 5 years. Additionally, the enhancement to the Enterprise Investment Scheme (EIS), where UK private investors investing in high growth UK companies
Scott Haughton
can obtain up to 65% tax relief, with any gains being exempt of capital gains tax (CGT) and outside inheritance tax (IHT) regime has been very well received by our Private Investors. Indeed we are pleased that our approach has resulted in Envestors
being awarded Private Investor Network of the Year at the Investor Allstars in 2011.
Q
Will the current turmoil in public markets have an impact on fundraising, or those about to start?
Clearly any uncertainty is never helpful but private investors fully realise that now is a very good time to invest in good quality, high-growth EIS eligible businesses, offering stellar returns. FM
For more information:
www.envestors.co.uk
OCTOBER 2011
www.finance-monthly.com
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