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Deepbridge confirms funding boost for North West firms in 2018

Deepbridge, the Chester-based tax-efficient investment manager, has announced a further increase in its yearly funding to an increased range of companies based in the North West.

Over the course of 2018, the growth capital provided over £12.5 million in funding to 33 companies, in addition to £12 million provided to 22 companies in the previous year, via its Enterprise Investment Scheme (EIS) and Seed EIS (SEIS) funds.

The investments were made in firms which operate specifically in Deepbridge’s specialist sectors – technology and life sciences – and the manager estimates this funding has supported in excess of 150 jobs in those areas.

Deepbridge currently operates four EIS/SEIS propositions:

* Deepbridge Technology Growth EIS

* Deepbridge Life Sciences EIS

* Deepbridge Life Sciences SEIS

* Deepbridge Innovation SEIS.

Deepbridge provides funding for innovation focused companies across the UK. However, as it is head-quartered in Chester, it has a high degree of experience in the region and a strong network of business relationships with key partners.

Partnerships with the likes of Alder Hey Children’s Hospital in Liverpool, the renowned science and innovation campus Sci-Tech Daresbury and academia across the region have allowed Deepbridge to broaden its funding right across the North West and to work with new companies in 2018 such as:

* PicturePath – a Merseyside-based company which is developing a mobile and web-based software product which aims to assist children with autism.

* Keia – a Manchester-based firm offering a platform to enable patients to locate wellness practitioners in their local area.

* Aquarate – a Liverpool-based business which is developing a software solution designed to help improve the accuracy of fluid balance monitoring.

Deepbridge has also continued to support the following:

* vTime – based in Liverpool, vTime is focused on developing and publishing highly-innovative virtual and augmented reality engagement software.

* Liverpool ChiroChem (LCC) – based at the University of Liverpool, LCC supplies specialist chemical Chiral building blocks that enable laboratory-based researchers to discover and build new drug molecules.

* Zilico – with its head office in Manchester, Zilico has developed an innovative and patented cancer diagnostic device technology that improves cancer screening programmes.

* SurveyMe – Stockport-based SurveyMe offers a disruptive mobile technology that enables businesses globally to quickly capture bespoke, real-time consumer and employee feedback.

* Connect Childcare – Burnley-based Connect Childcare has developed innovative nursery management software systems for the childcare sector.

Ian Warwick, Managing Partner at Deepbridge, commented:

“Home is where the heart is, and given that we are firmly rooted in the North West – with our head office in Chester – it is very pleasing to be able to announce a continuing commitment to funding of technology and life sciences companies in the region.

“Last year we upped both our funding and the number of firms we worked with, and it has been a rewarding 12-month period, working with driven and focused businesses that have some ground-breaking services and products to bring to market.

“Over 150 jobs have so far been supported in these businesses, and we are helping all our investment companies to secure growth, to employ more people, and to find new markets for their propositions.

“Our team of technology and life sciences sector specialists continue to work hard to develop key relationships and to ensure that our roster of North West based investee companies secure the support they need in order to fulfil their potential.

UKBAA

By UKBAA18 Feb 2019