The UK FTF L.P. was launched by the UK Prime Minister as part of the Government’s strategy for venture capital funds investing in technology companies with high growth potential across important sectors such as life sciences, digital and advanced manufacturing.
As a fund of funds, UK FTF L.P. will invest in venture capital funds which focus on investments in early and development stage technology companies in the UK to support the development of the UK venture capital sector. UK FTF L.P. is GBP 200m in size at first closing.
UK FTF L.P. :
- will invest only in venture capital funds and will not make direct investments in companies.
- is invested on commercial terms and seeks a market return on its investments
- is a long-term and pro-active investor and gives support in structuring and improving the business proposition of Venture Capital teams
- is a pari passu cornerstone investor for commercially viable teams
- promotes best industry practice (fund structures, governance)
- provides a catalytic role through high quality due diligence process
- is a network gate for Venture Capitals through EIF's large portfolio
- is a reliable and active investor adding value throughout the investment process
Geography
Funds are not restricted to invest solely in the UK companies, but need to have a certain focus and access to the UK and have experience investing in UK SMEs.
Key Sectors
UK FTF L.P. will focus on companies in the ICT, advanced manufacturing and life sciences sectors.
Investment criteria
- Predominantly established venture capital teams
- UK FTF L.P. is anticipated to make new investments up to the beginning of 2014
- Independent teams with complementary Venture Capital, technology and industry experience
- Coherent fund strategy taking into account the know-how of the team as well as fund size and the geographic, industrial and technological focus of the fund
- Commercially viable fund sizes for team stability and the fund's investment capacity concerning investments and follow-on financing needs
- Appropriate incentive for the whole team
- Pari-passu treatment of all investors
- Clear legal and tax structure for the fund incl. market standard terms and conditions
UK FTF L.P is advised by EIF.
Teams are welcome to contact EIF with their fund proposals. In order to facilitate the screening of any investment opportunity, please submit a comprehensive concept paper and/or draft Private Placement Memorandum.
Contact
Mr Ben Doyle, Investment Analyst, European Investment Fund, Tel.: +352 42 66 88 278 - Fax: +352 42 66 88 301 - E-mail
b.doyle@eif.org
