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East Midlands Early Growth Fund shortlisted for industry awards

16/07/2008

East Midlands Early Growth Fund, the £5m seed and early stage venture capital fund managed by E-Synergy and financed by East Midlands Development Agency (emda), has been shortlisted for the Equity Gap Fund of the Year Award at the Investor AllStars awards and dinner.

 

Now in its sixth year, Investor AllStars is one of the most important events in the European venture capital community’s calendar. The awards recognise Europe’s leading investors and risk takers and have been labelled the “Oscars” for the European venture capital community, with more than 600 investment professionals from across Europe attending the awards ceremony.

“We’re delighted to be shortlisted for the Equity Gap award by the Investor Allstar independent panel of experts,” said Fund Manager Nick Wright,“ particularly given that the award is open to all European funds active in the sub €1m investment market, including all seed venture capital funds, regional venture capital funds and enterprise capital funds.”

The Award is based upon the Early Growth Fund’s achievements in the period 1st May 2007 to 30th April 2008, when it made 9 investments, including Northampton-based Blackstar Amplification, Hinckley’s HR4UK.com, Derbyshire-based FDTEK, Nottingham‘s Karma Insurance and Rutland’s Babybond.

Speaking on behalf of emda, John O’Reilly, Business Support Director added: “It is excellent news that the Early Growth Fund has been nominated for the Investor Allstar award. It is recognition of the impact that the Fund is making to East Midlands businesses in the early stages of growth and of the professional way that it is managed by E-Synergy Ltd.”

The judges, who include industry veterans such as George Coelho (MD of Good Energies and former Managing Partner of Benchmark Capital Europe) and Wol Kolade (former Chairman of the British Venture Capital Association and Managing Partner of Isis Equity Partners), will meet to decide on the winners in early September and these will be announced on the night of the 24th September at the gala dinner and awards ceremony at the Hilton Park Lane Hotel.

The East Midlands Early Growth fund is administered by London-based fund manger E-Synergy, and administered from their offices at the Silverstone Circuit in Northamptonshire. The company has plans to open a further office in Nottingham.

Further details about the East Midlands Early Growth Fund can be found at: www.earlygrowthfund.com

ENDS


Notes to editors

For further information on this press release please contact Nick King, Media and PR Manager, on 0115 988 8375; email: nickking@emd.org.uk

About the Early Growth Fund

The East Midlands Early Growth Fund has assisted 11 businesses in the East Midlands in the last 15 months. It is just one of a number of funds managed by E-Synergy Ltd, the London-based venture capital fund manager. Further details about the East Midlands Early Growth Fund can be found at: www.earlygrowthfund.com

The Fund is one of a number of financial products established by emda for companies that require investment ranging from £2,500 to £2,000,000. A full range of financial services that are available to businesses, visit www.emda.org.uk/accesstofinance

About emda

• East Midlands Development Agency (emda) is one of nine Regional Development Agencies in England, set up in 1999 to bring a regional focus to economic development.

• Working in partnership with public, private and voluntary organisations the aim is to deliver the 2006 Regional Economic Strategy (RES) ‘A Flourishing Region’, which sets out regional priorities until 2020.

• The RES, coordinated by emda, highlights the themes of productivity, sustainability and equality and builds on the previous two strategies; ‘Prosperity Through People’ and ‘Destination 2010’.

• In early 2007 the National Audit Office announced emda had received the highest possible grade of 'performing strongly' in an independent assessment of our work - scoring 22 out of 24.

• For more details visit www.emda.org.uk

For further information please contact Nick King Media and PR Manager on 0115 988 8375; email: nickking@emd.org.uk