Kelvin Capital, a business angel syndicate based in the West of Scotland, has committed £3million towards investment in eight brand new Scottish businesses.
The angel syndicate finalised two deals in September 2012 with another six due for completion by January 2013, contributing significantly to Scotland’s economic growth in a number of important sectors.
Kelvin Capital was co-founded by John McNicol and Jim Hall in 2009. It works closely with Scottish Enterprise as a co-investment fund partner and specialises in early stage investment into Scottish innovation. The breadth of Kelvin’s investments span university spin outs as well as private entrepreneurial innovation in fields where novel IP, particularly in the medical device sector, can be enhanced for future growth potential. Each investment has the benefit of EIS scheme compliance.
John McNicol commented “We are getting more and more new members interested when they see the quality of the investments, the calibre of people whom we are backing and appreciate the tax benefits associated with the EIS scheme.”
Leveraging on key strengths, Kelvin Capital offers a new approach to early stage business investment with a well-resourced and vastly experienced group of investors, associates and advisors. Jim Hall explains:
“When we established Kelvin Capital we set out to fill a gap in the business syndicate market by providing early stage investment which is highly supportive, collaborative and efficient for the needs of each company as it grows. We attract innovative individuals and groups, get to know them inside out and advise them succinctly and clearly throughout each stage of the journey towards investment. Our manpower and expertise makes this process all the more efficient.
What gives Kelvin its edge is its paramount aim to stay with each company as it grows in order to give it the best chance of success. The breadth of Kelvin’s commercial expertise and access to professional resources is key to this.”
Peter Estibeiro, director of i2eye Diagnostics Ltd, collaborated with Kelvin Capital to bring a University of Edinburgh technology to market. “Kelvin Capital was invaluable from the start. In addition to the early stage investment, they helped provide solid advice on business strategy plus all the legalities and complexities involved in bringing this new product to market,” said Peter.
I2eye Diagnostics has gone on to further develop their product and, even before its formal launch, has secured its first order from the Boston Children’s Hospital, which is part of Harvard Medical School.
The latest deal completed by Kelvin Capital is a Scottish invention that is about to hit the US and global markets. Designed for the marine sector and based on a patented wave technology, Waveblade is the world’s first submersible handheld power tool to remove fouling and growth from boat and submerged surfaces.
Kelvin Capital invested £550K in order to develop a new product pipeline aimed at the commercial sector to build on the success enjoyed within the amateur boating market. Coupled with support from Scottish Enterprise’s High Growth Unit, Waveblade is set to be a global business within the marine sector with new applications in oil, gas and mining also being explored.
Other recent investments include the ‘smart antenna’ produced by University of Edinburgh spin-out Sofant Technologies Limited. Recently featured on the BBC news website, Sofant’s antenna is anticipated to revolutionise smart phone and tablet PC technology by making the problem of poor reception, and short battery life a thing of the past.