Braveheart Inv Regulatory News (BRH)

2 Dec 2009 08:54

2 December 2009 

Braveheart Investment Group plc

("Braveheart" or the "Group")

Reorganisation of Yorkshire-based Subsidiary

June 2009 Acquisition Split into Fund Management and Consulting Units

Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces that it has reorganised and renamed its Yorkshire-based subsidiary, Inkopo Limited ("Inkopo"). On its acquisition by the Group in June 2009, Inkopo had two core business streams, both based on technology investing: fund management and business consulting. These two business streams have now been separated into two stand alone companies, Viking Fund Managers Limited (renamed from Inkopo) and a newly formed company, Inkopo Consulting Limited, both based near Leeds.

Viking Fund Managers (VFM) was formed in 2002 as the result of the management buy-out of UniVentures, the technology transfer vehicle for Leeds Metropolitan University. The buy-out was effected by Andrew Burton, VFM's CEO and then CEO of UniVentures, who then expanded the company's activities to provide a corporate base for serving the needs of early stage, technology-based enterprises. In 2004, VFM led a successful bid to the (then) DTI for one of the eight Early Growth Funds, named the Viking Fund, and subsequently provided management services to the Fund and it's not-for-profit sister company, Viking Business Angels Club Limited. VFM also manages the Viking Loan Fund and the Yorkshire Association of Business Angels.

Inkopo Consulting provides business consultancy to Viking Fund portfolio companies and external third party organisations, as well as the provision of operational support services in areas such as IT, accounts and marketing. Inkopo Consulting also provides consulting services to public bodies and publicly funded programmes linked to economic regeneration.

Geoffrey Thomson, Chief Executive of Braveheart said: "The separation of Inkopo should lead to two more focused businesses which have clearer routes for future development. Inkopo Consulting has a superb offering for technology investors, and now has the potential to provide greater diversification to group revenues. VFM operates in an area that Braveheart is closely familiar and we see much potential for its development as a stand alone business. Indeed, Braveheart has recently made its first investment in Yorkshire, into Phase Focus Limited, a Viking Fund portfolio company".

Andrew Burton, Managing Director of VFM said: "This separation should provide clear delineation between our activities and give both current and potential investee companies a clearer view of our business and the help we can provide. I believe that both divisions have considerable potential as stand alone businesses, and with the support of Braveheart, it was clear that the time was right to enact this reorganisation".

For further information please visit www.braveheartinvestmentgroup.co.uk or contact:

Notes to Editors

Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Twelve years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through our close relationships with a number of leading universities and innovation centres we have access to a wide variety of emerging commercial opportunities at early stages. The Group currently has 29 companies in its equity portfolio.