Andrew Aldridge investigates what drives EIS fund managers to do the job they do.

Silicon Microgravity (SMG), a spin-out from both BP and the University of Cambridge, has raised $7 million from IP Group, Parkwalk, BP Ventures and Cambridge Enterprise.

Silicon Microgravity Limited is a privately held company focused on developing and applying innovative technology primarily to improve surveillance, appraisal and production of oil and gas with additional application to CO2 storage, water management, mining and defence. Our technology has the potential to disrupt current practices and advance reservoir surveillance so that our clients can achieve real efficiencies and cost savings while meeting their desired social, safety and environmental goals.

Livingbridge has sold its stake in Portman Dental Care, the fastest growing, privately led dental group in the UK.

Founded in 2009 by Sam Waley-Cohen, Livingbridge invested in Portman in 2014. Since then, this investment has helped grow the group from 27 to over 75 practices across the UK, building a strong reputation for modern facilities, patient friendly appointments, friendly and caring staff and the highest clinical standards.

Venture capital funds globally continued their strong run of performance over recent years in the first quarter of 2018, with a near-record return of 1.45x, according to data from eFront, the world’s leading alternative investment management software and solutions provider. Western Europe funds of vintages 2009-14, meanwhile, are recording strong outperformance of the long-term trend.

The UK is the world’s least-loved major market – but it’s not all Brexit’s fault, affirms a leading analyst at one of the world’s largest independent financial organisations.

Rcapital has backed Scottish shopfitter Havelock, based in Kirkcaldy, Fife.  The deal secures over 300 jobs and the firm’s manufacturing sites, providing financial stability for the business.

Manchester-based Ardenton Capital has backed PP Control & Automation in the investor’s second deal.  Ardenton now owns a majority stake in PP Control & Automation, which employs more than 230 people at its world-class manufacturing facility in the West Midlands. 

iBAN, a UK-based company which raised funds on Seedrs in 2017, plans to launch iBAN Wallet - a digital alternative to traditional banking. iBAN Wallet aims to bring all the key banking services into one digital platform that can be securely accessed via a smartphone. Users will be able to access a wide range of financial services via the app, which will be available on Google Play and the iTune Store.

Other Mind, Inc. the first intelligent assistant that simplifies your digital life, has closed its seed funding round. The capital raise closed at USD $640,000. Other Mind will use the funding to finalize platform development and drive product enhancements and testing, with a view to launching in late 2018. 

• UK plc debts hit all-time high of £390.7bn
• This is up 69% since the debt low point in 2010/11, an increase of £159.6bn
• Most of this increase (£122.6bn) has been in the last three years, helping fund dividends of £263bn at a time of low profit

Aistemos, the leading provider of patent analytics software, has today announced it has secured an investment of £3m. Beringea, the international growth capital investor, led the Series A funding round. The funding will support the expansion of Aistemos’ core product, Cipher, and the development of a range of products focused on specific sectors, designed to enable businesses to access data about patented technology with greater speed and accuracy.

Livingbridge has made an equity investment into online investment platform Munnypot to further develop its technology and enhance its customer proposition.