SGM.L Regulatory News (SGM)

23 Feb 2006 07:01

Sigma Technology Group PLC23 February 2006 23 February 2006 SIGMA TECHNOLOGY GROUP PLC ("Sigma" or the "Company") New Investments Sigma Technology Group plc, the UK venture capital investment management and advisory group that specialises in three asset classes, technology, renewable energy and property, today announces two new investments: • Nandi Proteins Limited - lead investor in total investment round of £660,000 • Exterity Limited - lead investor in total investment round of £830,000 Both of these investments are made through the Sigma Technology Venture Fund ("STVF"), a fund that is managed by Sigma. Nandi Proteins Limited ("Nandi") The STVF has led a total investment round in Nandi of £660,000. STVF invested £300,000 as lead investor alongside the Scottish Co-investment Fund, which invested £300,000 and a group of individuals, including the Chairman who invested £60,000. Nandi is a development stage biotechnology company that spun-out of Heriot-Watt University in 2001. The Company has developed modified protein technology for use in the food and drink production industry. This investment in Nandi follows on from two previous investments led by Sigma, taking the total funding arranged by Sigma to £1,000,000. Neil Crabb, Managing Director of Sigma, joined the Board as a non-executive director at the time of Sigma's first investment in 2004 and will continue on in this role. David McCartney, formerly Managing Director of Fiske Food Limited and recently a Director of Mayfair Foods Limited, joined Nandi as CEO immediately prior to the investment. Exterity Limited ("Exterity") The STVF has led a total investment round in Exterity of £830,000. STVF invested £325,500 as lead investor alongside the Scottish Co-investment Fund, who invested £325,500, LINC Scotland, who invested £15,000, and a group of private investors, who invested £150,000. Exterity, founded in 2001, develops and supplies a range of products that distribute TV and video around business and campus networks for corporate, education and hospitality organisations. Exterity's customers include Aston University, Gibraltar Hospital, Reuters, SAB Miller and the Metropolitan Police. This round of funding will be used to support further expansion of the company's commercial activities both in the UK and Europe. Mark Hogarth, Investment Director at Sigma, will join the Board as a non-executive director. ENDS Contact Sigma Technology Group plc Graham Barnet, Joint Managing Director 0131 220 9444 BuchananCommunications Diane 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 corporate advisory group with offices in Edinburgh and London. It specialises in three asset classes: technology, renewable energy and property. Sigma was founded in 1997 by Graham Barnet and Neil Crabb. It manages third party funds as well as investing as principal alongside third party investors through its investment in its venture capital funds; the Sigma Technology Venture Fund (the "Venture Fund"), the Sigma Innovation Fund (East of Scotland) (the "Innovation Fund") and the Sigma Sustainable Energies Fund ("SSEF"). These have £29m of funds under management. Its property activities are through its subsidiary, Strategic Investment Management Limited, which has raised funds of £76m since September 2002. Scottish Co-investment Fund The £45 million Scottish Co-investment Fund was announced in August 2002 to support the development of the early stage venture capital market in Scotland. The Fund does not invest directly in companies but co-invests in private sector Venture Capital funds and Business Angel syndicates who then choose to invest in companies looking for up to £500,000 of funding. The aim of the fund is to increase the supply of funding available and also to increase the number of funders becoming involved in the early stage investment market. Nandi Proteins Limited For further information on the company, contact: Nandi Proteins Limited www.nandibiotech.com David McCartney - CEO Tel: 07932 144 822 Exterity Limited For further information on the company, contact: Exterity Limited www.exterity.co.uk Colin Farquhar - CEO Tel: 01383 828 260 This information is provided by RNS The company news service from the London Stock Exchange