Strong retail investor demand drives record growth for Blackfinch’s Spring VCT, and Enterprise Investment Scheme (EIS) Portfolios, funding a diverse spectrum of innovative UK start-ups including energy and infrastructure technology
Blackfinch is proud to announce a record-breaking year of fundraising totalling over £30m, following the launch of the Blackfinch Energy Transition EIS Portfolios and a further dividend announcement on the Blackfinch Spring VCT.
This tax year end fundraise has seen more than 38% growth in the number of applications from the Financial Adviser network and follows consistent year on year growth as the Blackfinch Ventures team continues to win industry awards and recognition.
Following the growth of the business, Blackfinch Ventures moves under the stewardship of Dr Dan Appleby, CIO Listed, who also oversees smaller company and AIM investing. Dan brings extensive experience having previously been the Head of Research at Blackfinch as well as the Senior Analyst and Investment Manager for multi-asset and AIM portfolios. Dan, who has sat on the Ventures investment committee for the last six years, holds a PhD in nanoelectronic research and is also a CFA Charterholder.
Blackfinch Ventures investment team have deployed £18 million at the start of April into early-stage UK companies, backing 17 tech-enabled start-ups.
This represents an increase of more than 50% compared to April last year and is a record-breaking deployment from the investment team, including the first investments to drive the Energy Transition.
Recent investments include:
- Minimal, a start-up building lightweight electric delivery vehicles for urban areas to reduce emissions and fleet costs.
- Good Life Sorted, a start-up operating a home-help marketplace, connecting older people with vetted helpers for essential support like shopping, cleaning and companionship, and
- GT Wings, a Liverpool-based company developing wind powered propulsion systems for commercial shipping.
These companies reflect Blackfinch Ventures’ investment strategy, which focuses on start-ups with real world applications in sectors experiencing long term tailwinds, such as transport, health and wellbeing, energy transition and advanced manufacturing.
As part of the growth strategy, Blackfinch Group is launching Hatchery – an in-house incubator for start-ups. Leveraging expertise from across all the group’s multi-disciplined investment teams and external partners, Hatchery will seek out opportunities to develop disruptive technology-led solutions that can add value in society. The companies will be supported through their initial investment rounds by Blackfinch investments such as the Blackfinch Spring VCT and EIS portfolios. Hatchery’s first company, Thrive, will launch this summer and is designed to empower the financial future of the UK workforce. Built for forward-thinking businesses, Thrive will help employees take control of their financial planning and long-term well-being — by giving companies a smarter, simpler way to manage pensions, benefits, and financial education for its staff.
Richard Cook, Blackfinch CEO says:
“This result is a fantastic achievement and I’m incredibly proud of everyone around the business who has played a role in making it happen. From welcoming Tim Wynn-Jones as our Head of Energy Transition, to seeing the first investments into energy and infrastructure that will decarbonise our society, it’s been about adapting to the investment opportunities and evolving our offering. Hatchery opens the door to the next exciting chapter in our mission to enable a better future for individuals, businesses and communities.”
Dr Dan Appleby, CIO Listed, says:
“We anticipate further growth within the Blackfinch Ventures area of the business, as the wider group collaborates with their expertise and experience to deliver on innovative initiatives. A new evolution of venture capital investing lies ahead of us and that presents opportunities that we hope to bring to the retail investor and financial adviser community. I’m delighted to be taking over the stewardship of Blackfinch Ventures, and all the potential that the business offers.”
Dr Reuben Wilcock remains an engaged member of the network of experts and venture partners that Blackfinch Ventures offers to portfolio companies as well as retaining multiple board seats across the portfolio.
