WESTERN DAILY PRESS – 29 OCTOBER 2016
Tech start-up given £400k by equity club.
A private equity club with 32 members – all wealthy entrepreneurs with substantial business experience and cap-ital available to invest in sup-porting and funding growing businesses – has just completed its first investment.
Bristol Private Equity Club, founded by six influential and successful entrepreneurs in May 2016, has provided £425,000 of investment capital and a non-executive board director for the tech start-up YellowDog Limited.
Based in Bristol, YellowDog is one of the South West’s hot-test start-ups, recently winning an Oracle award for in-novation in cloud computing.
Within 18 months, it has gone from incorporation to having some of the world’s leading architecture and animation companies on its books.
YellowDog founder and managing director, Gareth Williams, said: “I’m delighted that YellowDog has the support of the Bristol Private Equity Club. Not only their investment, but their wealth of experience, will really help YellowDog accelerate its growth over the coming months and years as we prepare for expansion into new sectors.”
Jerry Barnes, one of the founders of Bristol Private Equity Club, said: “YellowDog are an excellent example of the type of business that we can help. They are at the forefront of their game, have developed technology which is much in demand, need support to get to the next level and importantly they are local to Bristol and Bath.
“Our investment will help YellowDog to deliver their business plan and achieve their ambitious growth plans by extending the usage and finding new market opportunities for the computer processing power they have at their disposal.”
He added: “We formed SPEC earlier this year to fill the miss-ing gap that often exists in funding local businesses. The greater Bristol area is well placed with a number of business angels and start-up sup-port organisations through to the incubators set up by local universities.
“More established businesses may be able to get access to investment from venture capital funds and possibly banks, too. But those who have only a few years’ experience and not grown large enough to be of interest to venture capitalists are quite likely to need a different type and source of investment and business sup-port.
“We are looking to provide from £100,000 to £500,000 of equity funding for each business opportunity we invest in. Our members individually decide on a case-by-case basis and we have experts in just about every field ready and willing to help.”
BY DAVID CLENSY WesterndadyPress