Recently I was fortunate to have coffee with Rod Bishop – a very successful entrepreneur leading Jayride. Jayride is already successful in Australia and there were plans to roll out globally. But which market would be the first step on this ambition? How do you even start thinking about this? Here are some of my thoughts, what do you think?
The other week I caught up with Chris Jennings of Chrysalis VCT. It’s nearly a year since I met him when he was opening the Bristol office of this London based Venture Capital Trust. By all accounts Chris has been working hard to find companies in the South West that meet the criteria of requiring between £250K and £1M for a deal involving debt and equity. (An aside: they are offering 6-10% fixed rate interest and debt repayment – that’s a good rate by anyone’s standards).
This deal was sourced by a colleague who rungs Peagsus Funding: Alan Cottle. Alan is based in the South West and provides excellent help and advice to a few, select companies that he feels will be successful in raising finance from his Business Angel and Venture Capital contacts. In this case he prepared the company for investment and developed a robust financial model.
So what was the deal?
Chrysalis VCT invested in a telecoms infrastructure services company called AerialCell based near Aldershot. This funding will provide development capital to drive business growth in the installation, decommissioning, optimisation and maintenance of telecoms antenna and transmission equipment.
Chris is currently working on other deals although the next one has been held off for a couple of months to allow the management team to concentrate on their company… Congratulations to all involved in getting a successful investment. I’m looking forward to hearing about the exit!