SGM.L Regulatory News (SGM)

2 Dec 2005 07:00

Sigma Technology Group PLC02 December 2005 Immediate Release 2 December 2005 SIGMA TECHNOLOGY GROUP PLC ("Sigma" or the "Company") Investment Update Sigma Technology Group plc, the UK venture capital investment management andadvisory group that specialises in two sectors technology and property, todayannounces a new funding partnership with Scottish Enterprise and provides aninvestment update. Highlights • Co-investment partnership in Scottish Enterprise's £3.5m Digital Media Project Investment Fund agreed • Completion of third round investment of £500,000 into SFX Technologies • DEM Solutions launches particle mechanics simulation platform • 9 investments made in the year to date totalling £2.8m Co-investment Partnership with Scottish Enterprise ("SE") Sigma today announces that it has become a partner in Scottish Enterprise's£3.5m Digital Media Project Investment Fund ("DMPF"). This partnership willenable Sigma to have access to matched funding of up to £500,000 per investmentin Scottish technology companies in the digital media sector. The £3.5m fund now has four private sector investment partners - IngeniousMedia, Fund4Games, Glasgow Film Finance Limited and Sigma. Since its inception in April 2005, the fund has made two investments - one in'On a Clear Day', the film starring Peter Mullen which recently won the BAFTAScotland award for best film and a television documentary for ITV made byCaledonia TV. It is currently working on a third deal which will come tofruition next month, and has others in the pipeline. Completion of third round funding for SFX Technologies Limited In November Sigma completed a total investment round in SFX Technologies Limited("SFX") of £710,000. Sigma invested £500,000 as lead investor alongside theScottish Co-investment Fund, which invested £150,000 and the management team whoinvested £60,000. SFX designs, develops and markets a unique speaker technology for use inapplications ranging from consumer electronics, laptops and mobile phones tohi-fi and home cinema. The technology is also suitable for architecturalapplications. This investment in SFX follows two previous investments led by Sigma and takesthe total funding arranged by Sigma to £1.7m. Graham Barnet, Managing Directorof Sigma, is a non-executive director. DEM Solutions launches particle mechanics simulation platform DEM Solutions ("DEM"), the global leader in particle mechanics simulation, hasannounced the launch of EDEM, the world's first complete particle mechanicssimulation platform. EDEM enables customers in industries ranging frompharmaceuticals to mineral handling to design, develop and test products,processes and equipment more quickly and accurately than was previouslypossible. For example, it is used in coating and mixing processes in thepharmaceutical industry. In doing so, EDEM delivers a tangible return oninvestment by allowing customers to dramatically reduce development costs andtime to market. DEM's customers include Deere & Co, Astec Inc and De Beers PtyLtd. Sigma led a total investment round in DEM of £1,000,000 in July this year. Itinvested £550,000 as lead investor while the Scottish Co-investment Fundinvested £450,000. Other Investment Activity In the year to date Sigma has made 9 investments totalling £2.8m, out of a totalfunding round of £5.6m. Sigma remains very active and is continuing to work on asignificant number of other investments. ENDS Contact: Sigma Technology Group plcGraham Barnet, Joint Managing Director 0131 220 9444 BuchananCommunicationsDiane Stewart/Isabel Podda/Amy Rajendran 0207 466 5000 Notes to Editors About Sigma Technology Sigma Technology Group plc is a UK venture capital investment and corporateadvisory group with offices in Edinburgh and London. It specialises in twosectors; technology and property. Sigma was founded in 1997 by Graham Barnet and Neil Crabb. It manages thirdparty funds as well as investing as principal alongside third party investorsthrough its technology venture capital funds. The Sigma Technology Venture Fund(the "Venture Fund") and the Sigma Innovation Fund (East of Scotland) (the"Innovation Fund"). These have £23m of funds under management. Its property activities are through its subsidiary, Strategic InvestmentManagement Limited, which has raised funds of £76m. This information is provided by RNS The company news service from the London Stock Exchange