Business Showcase at Capital Network Event
Published: 29th January 2003
SYIF Capital Network manager Lynne Martin with Gareth Honey from Access Worldwide.
SYIF Capital Network manager Lynne Martin with Mitch Tunnard from Modular Helmets
South Yorkshire entrepreneurs seeking funding to expand their businesses further have showcased their companies to the region’s business angel community at a recent event organised by Capital Network.
Capital Network, part of the South Yorkshire Investment Fund, looks to bring together entrepreneurs seeking funding with Business Angels keen to invest in fast-growing businesses. Business Angels are typically wealthy and experienced businessmen keen to lend their expertise and cash to growing businesses.
One of several companies exhibiting to the Business Angels was Sheffield-based Access Worldwide Ltd which specialises in manufacturing diving equipment for offshore oil rig maintenance. Access Worldwide is seeking to raise funds from a Business Angel who will work closely with the company.
Also at the event was Modular Helmet Systems, a successful protective hat manufacturer. It has an international client base and supplies to a variety of sectors including the emergency services.
Lynne Martin, manager of Capital Network, said: "These events have proved to be very successful. They aim to bring together ambitious and aspiring entrepreneurs with great ideas to business angels who can invest and bring in industry experience and contacts.
"The events bring about exciting opportunities for all those involved, not to mention boosting the business prospects in the Yorkshire region."
The Fund provides development and risk capital ranging from £15k to £1m to businesses in, or prepared to relocate to, South Yorkshire. It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 3% per annum.
The second product is an equity-linked package, ranging from £50k to £1m where the Fund takes a minority stake in the business.
The equity-linked package, with its competitive fees, is designed for new or existing businesses with potential for rapid expansion. Investments can be made as a mix of ordinary and preference shares or subordinated loan stock.
A unique feature of the way the Fund can help businesses is the Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitable.
The Fund’s products are designed to support businesses through critical stages of growth. From start through to major expansion, the fund will provide financial support. If a business is looking to start up, invest in new technology or equipment, enter new markets or locate into South Yorkshire it should call South Yorkshire Investment Fund first.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).