Accretion Capital ("Accretion") Launches a New Range of Services
Online, April 29, 2010 (Newswire.com) - Accretion Capital ("Accretion") Launches a New Range of Services
Accretion is a specialist European Technology Fund Manager & Adviser
Accretion Capital was founded in 2007 in order to provide early stage strategic capital investment to European emerging technology companies. In doing so, Accretion plans to bridge the gap between angel and subsequent mainstream institutional investment and in turn deliver significantly improved returns via an IPO or trade sale exit over the medium term.
Although access to capital for such a strategy has been extremely limited due to market conditions, Accretion believes that the business opportunity is as strong as ever and remains focused on raising the necessary funds (in addition to the Technology EIS Fund launched in February in partnership with Stellar Asset Management) to address this market opportunity as soon as practicable.
Underpinning its investment strategy, Accretion is now offering a range of new support services to pan European technology companies which now includes:-
• Reviewing potential technology investments for direct investors.
• Reviewing and giving advice to investors on existing portfolios.
• Non executive and corporate advisory work.
• Pooling resources to raise capital to invest in the sector.
• Exit advice and assistance to institutions/ VCs/management shareholders on their technology investments.
• Disposal or management of a pool of investments where they are no longer viewed as strategic to their owners.
• Participation on in house investment committees.
Steve Bellamy, Accretions CEO commented:
"We have an exceptionally strong management team in place with over 20 years of technology fund management experience with access to global technology industry experts particularly in Europe and the US In addition.
In addition, we have executive director and non-executive director level experience of numerous technology companies as well as Venture Capital and corporate finance expertise.
Using these skill sets, we intend to capitalise on a select number of direct investment opportunities within the European technology sector, where we believe we can add strategic value and are currently seeking investment support for this strategy.
For quoted companies, Accretion's partners have created their own investment pool and we will invest in suitable businesses with the proviso that an Accretion representative is appointed to the Board to oversee our investment.
We look forward to providing further updates in due course"
For further details please contact:-
Mike Bourne
Accretion Capital Direct: +44(0)20 3178 7077
bourne@ac-llp.com
Steve Bellamy
Accretion Capital
Direct: +44(0)20 3178 7076
Bellamy@ac-llp.com
Shane Dolan
Biddicks
Financial Public Relations
Tel: +44(0)20 7448 1000
Shane.dolan@biddicks.co.uk
Notes to Editors
The Accretion Team
Steve Bellamy - Chief Executive
Steve has15 years operational & strategic business experience (in both an executive & non-executive capacity) and 16 years investment experience (both quoted & venture/private equity related). Since 2001 Steve has had various advisory and non-executive roles, mostly in the technology industry, working with capital providers and private and public companies. Previously, Steve was COO (1999 to 2001) and Finance Director (1994 to1999) of Sherwood International Plc (a fully listed UK company). He was instrumental in Sherwood's turn around from being a diverse UK centric group with losses of £2m on £26m revenue and £3.5m debt (in 1993), to being a leading technology solutions supplier to the global insurance industry and UK government with £55m revenue, £10m profit and over £20m net cash (in 2000). From 1986 to1993 he was a UK Investment Director of Brierley Investments, an active investor in quoted undervalued UK Companies, and from 1981 to 1986 worked at Coopers & Lybrand (now PwC) in New Zealand and New York. His previous non-executive roles include: Chairman of ImagoQA Ltd and Dr Foster Ltd, NED of Budgens plc, Member of ISIS Capital Advisory Committee and adviser to various corporate capital providers. Steve is currently Chairman of The First Close Technology Fund and NED of Advanced Medical Solutions Group plc, Image Metrics Ltd, BeCrypt Ltd and Clarity Commerce Solutions plc, all of which are technology companies. He trained as a chartered accountant in New Zealand.
Mike Bourne - Chief Investment Officer
Mike has over 20 years of experience as a specialist technology industry fund manager. He founded Reabourne in 1995 and was CEO from 1995 until September 2004 (when Reabourne was acquired by Close Brothers) and then became CIO until 1 January 2007 when he left to set up Accretion Capital LLP with Steve and Pierce. Mike was previously a director of Henderson Investment Management (1992 to 1995) and a Fund Manager of Prolific Technology Unit Trust (1988 to 1992). He was an investor in Sherwood and has known Steve since then. Mike and Steve also worked together on the First Close Technology Fund from 2000 to 2008, where Mike was a committee member and the technology adviser. He is currently a member of the TechMARK advisory board. Under Mike's leadership the Reabourne team won numerous industry awards including TechMARK fund manager of the year on three occasions and a number of awards from Standard and Poors. Mike trained as a chartered accountant and is a member of ICAEW.
Pierce Casey - Non-executive Chairman
Pierce is a private equity specialist and an entrepreneur with 25 years investment experience. He has been a director of Alchemy Venture Partners (2001 to 2007) and of Apax Partners (1997 to 2001) and prior to that was Founder and CEO of Equity and Corporate Finance plc (1988 to 1997), which invested in and helped build numerous successful businesses including Walker Hamill (recruitment), Omnilogic (IT), Fayrewood (IT) and ComputerLinks (IT). His current commitments include being: principal of a diverse private investment office in Dublin; Chairman of getmobile (AIM quoted, mobile phone services); Chairman of Kiolpa (telco mast company); Chairman of PURE International (international real estate) and a Director of Ennismore Funds (long / short European hedge funds). Pierce trained as a Chartered accountant with Coopers & Lybrand (now PwC).