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UK FTF supports future technologies and entrepreneurship once more

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    Date: 24 November 2010

The UK Future Technologies Fund (UK FTF) has committed £15 million into Advent Venture Partner’s first life science focused fund, to be called Advent Life Sciences.  This is UK FTF’s third signature with the objective to support technology-based small and medium sized businesses (SME) since its launch in February 2010.

Advent Life Science’s investment strategy is a perfect fit with UK FTF’s stage and sector target.  It specifically concentrates on innovative early- to mid-stage UK and European companies that provide technologies or products in a range of sectors within life sciences, including new drug discovery, enabling technologies, med tech and diagnostics.

The Advent team managing the fund has been involved in SME financing in the advanced technologies sector for over 20 years and has extensive market knowledge, experience and recognition which make them one of the major and most established players on the UK venture capital market.

“This investment is exactly why UK FTF was set up - to back venture capital fund managers that have the capacity to make a difference to the technology and innovation sectors, that will pick, support, develop and transform UK businesses into European forerunners and that are able to create momentum and traction to close funds in a challenging market environment” says John Holloway Transaction and Relationship Management Director at the European Investment Fund (EIF).

“We are convinced that our renewed cooperation with Advent will have a significant impact on the development of UK’s future technologies”.

About UK FTF

The UK Future Technologies Fund (UK FTF) is one of two funds of funds which effectively make up the UK Innovation Investment Fund (UK IIF) 

Backed by a £150m investment from the Department for Business, Innovation and Skills, the Department of Energy and Climate Change, and the Department of Health, UK IIF has already attracted outside investment to more than match this amount with the total first closing of £325m. 

The UK FTF, managed by EIF, has £200 million to invest. This Fund of Funds invests in a range of technologies such as life sciences, digital technology, and advanced manufacturing. 

About EIF

EIFs’ central mission is to support Europe's SMEs by helping them to access finance.  EIF designs and develops venture capital and guarantees instruments which specifically target this market segment. EIF has a crucial role to play throughout the value chain of enterprise creation, from the earliest stages of intellectual property development to mid and later stages SMEs. EIF fosters EU objectives in support of innovation, research and regional development, entrepreneurship, growth, and employment.

For further information on UK FTF please follow this link

For information on the signature please contact Jean-François Leprince, LEPRINCE@eif.org (Investment Manager) or contact Joëlle Harvey, j.harvey@eif.org (Public Relations)

About Advent Venture Partners 

Advent Venture Partners is one of Europe’s most established growth and venture capital firms, investing in technology and life sciences businesses run by great teams that want a pragmatic and well-connected partner by their side. 

The Advent life sciences team is a leader in European life sciences venture capital.  Its investments  include: PowderMed, a therapeutic DNA vaccine company sold to Pfizer; Thiakis, an obesity treatment company acquired by Wyeth Pharmaceuticals; Respivert, a drug discovery company focused on respiratory diseases that was acquired by Johnson & Johnson; Cellnovo, a biomedical device company developing a revolutionary mobile insulin pump system; EUSA Pharma, a rapidly growing transatlantic speciality pharmaceutical company focused on late-stage oncology, pain control and critical care products; and, Algeta (ALGETA.OL), an oncology company developing treatments for bone metastases and disseminated tumour types.

www.adventventures.com


 
 

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