Vamosa secures £1 Million Investment from Capital for Enterprise Fund managed by Maven Capital Partners
Funding to support Vamosa’s future growth and development plans in Scotland and internationally
Glasgow, Scotland – 14 August 2009 – Maven Capital Partners (“Maven”) as joint manager of the Capital for Enterprise Fund (“CfE Fund”) has today announced its £1million investment in Vamosa, a provider of software and solutions for Enterprise Content Governance (ECoG).
The £75 million CfE Fund is a government initiative launched earlier this year to help small and medium size enterprises (“SMEs”) in the UK gain access to the financial support required to bridge the funding gap caused by the credit crisis. In April 2009, it was announced that £60 million from the CfE Fund would be allocated to two separate £30 million funds, one of which is managed by Maven. A further £15 million is being managed as a co-investment fund by Capital for Enterprise Fund Managers.
The investment in Vamosa is one of the first investments to be made by the CfE Fund, and will support Vamosa’s growth and development plans to become a leading, worldwide provider of Enterprise Content Governance (ECoG) solutions, the end-to-end process of creating, implementing and maintaining content quality standards.
With the recent launch of Check & Fix, the first web site content monitoring service that checks and automatically fixes errors, Vamosa is well placed to provide large businesses and Governments worldwide with solutions to implement content management and compliance policies.
“With this investment, we will help to define the global ECoG sector,” said George Knox, Managing Director of Vamosa. “It is our vision for a Scottish business to ensure multi-national organisations and governments receive the highest return on investment from their content assets. Receiving this capital injection from Maven is a proof-point to the opportunities available to Vamosa.”
Andrew Craig, Partner at Maven, said, “Vamosa is an innovative software and solutions provider and we were impressed with their strategy to become the pre-eminent provider of ECoG solutions to large corporations and governments across the world. This investment by the CfE Fund will provide Vamosa with the necessary growth capital to help the team achieve their strategic vision, and demonstrates the value of the fund in supporting ambitious UK businesses like Vamosa.
“We now have several CfE Fund opportunities in formal due diligence and hope to be in a position to announce a number of investments across the UK over the coming months.”
Rory Earley, Chief Executive, Capital for Enterprise Fund Managers Ltd, said: “The fund is a key part of the Government’s Real Help for Business programme, which is investing in sound businesses that have been hit by the credit crisis. This is a strong start for Maven and I am confident that we will see many similar good quality deals as the fund gains traction.”
Key professionals involved in this transaction included:
• Maven Capital Partners – Andrew Craig, Gemma Hamilton
• DLA Piper, Glasgow – Neil Burgess, Stuart McMillan (Maven legals)
• PKF, Leeds – Mark Lister, Paul Airey (Financial Due Diligence)
• Calash, Aberdeen – Merlyn Gregory (Commercial Due Diligence)
• McClure Naismith LLP – George Frier, Colin Cant (Management legals)
• Oxygen Insurance Brokers, Glasgow – Jim Rutherford (Insurance Due Diligence)
• Armstrong Craven, Manchester – Sharon Davies (Management Referencing)
George Frier of Lawyers McClure Naismith LLP, who represented Vamosa, commented, “Growth companies need access to committed funds to realise their potential and the CfE Fund will be invaluable. We are delighted that our client Vamosa should be the first Scottish company to benefit from this initiative.”
