|
We are investors in exciting growth opportunities although we do not invest in start-up
or very early stage companies. We are seeking investments in companies that are
intending to list on AIM or another market or achieve a trade sale within, typically
24 months of this investment.
The Trust does not have a sector focus, but we are unlikely to invest in oil or
mineral exploration, drug discovery or property companies. About half of our investments
at any time are likely to be technology companies.
|
|
We invest in the UK and North America
|
|
Reasons for investment
|
|
We expect to invest in companies that require finance for the following reasons:
|
|
|
To build out the balance sheet and/or operations in order to ensure viability as
a listed entity.
|
|
|
To replace early stage investors or, in some circumstances, managers, who wish to
achieve a partial sale of their investment before listing.
|
|
|
To provide bridge finance in anticipation of a listing, especially when market public
market conditions for IPO's are poor.
|
|
|
To finance an acquisition made in anticipation of a listing or trade sale.
|
|
Guidelines
|
|
We will:
|
|
|
Invest as little as £1 million/$2 million.
|
|
|
Invest up to £7.5 million/$15 million from our own funds.
|
|
|
Occasionally invest in companies which are already listed, and are seeking capital
as part of a refinancing.
|
|
|
We can act as either lead investor or as part of a syndicate.
|
|
|
We have assembled syndications of up to £15 million/$30 million with co-investors
from amongst Loudwater Trust shareholders and others. |
|
|
Generally invest by way of a convertible loan, but will sometimes invest in simple
equity.
|
|
We will not :
|
|
|
Invest in start-up's.
|
|
|
Invest in IPO's.
|
|
|
In most circumstances, invest in a company which has annualised turnover of under
£1 million/$2 million.
|
|
Update
|
On 30th November 2009, the Company announced new Investment Objectives. These can be viewed
here. |