Funding Focus to seek LSE listing

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FUNDING FOCUS INVESTMENT TRUST IN PROCESS OF SEEKING A

LONDON STOCK EXCHANGE LISTING

TO SUPPORT FEMALE AND UNDER-REPRESENTED ENTREPRENEURS

· Announced at London Stock Exchange event during International Women's Week

· Fund seeks to address under investment in female and under-represented groups

· The majority female board is chaired by Shalini Khemka, CBE

10 March 2022: Funding Focus Investment Trust plc, the investment trust for female and under-represented entrepreneurs, announces today that it is in process of seeking approval of a prospectus from the FCA with a view to launching an offer for subscription. It has filed an Early Notification of Listing with the London Stock Exchange. FFIT will offer investors access to businesses it has identified as high growth businesses across the UK and Europe, led by entrepreneurs who identify as female and/or non-white ethnicity.

FFIT seeks to address the chronic under-investment in female and under-represented entrepreneurs of all genders in the UK and Europe, and to rectify the strong bias in the venture capital industry towards all male founding teams[1]. For example, across the UK and Europe, despite the record-breaking sums invested, the share of funding to mixed gender teams fell from 14.6% in 2020 to 13.6% in 2021, and the share to all-female teams collapsed from 2.4% to just 1.0% of the total.[2]

The Board has extensive investment, entrepreneurial and professional expertise and is chaired by Shalini Khemka, CBE, Founder & CEO of E2E and Business Advisory Board Member to The Mayor of London. She was a former Investment Director at Lloyds Development Capital and Dealmaker for the Government focused on attracting fast growth tech start-ups to the UK. The other Non-Executive Directors are: Julie Pomeroy (Chartered Accountant and experienced listed company Finance Director), Fran Boorman (award-winning business leader and author), Sophie Milliken (multi-award winning entrepreneur), Mehmuda Mian (former solicitor in commercial and professional indemnity litigation). The Executive Directors and Founders of FFIT are David B Horne (CEO) and John P de Blocq van Kuffeler (CIO).

Shalini Khemka CBE, Chair of Funding Focus Investment Trust said:

"Having worked directly in private equity for a number of years and more recently indirectly with venture capital firms across the UK, it concerns me greatly that there is significant under-representation of both women and ethnic minorities in leadership positions and on investment committees. Our purpose is to address these unfair challenges by giving access to capital typically required by these groups as they scale their businesses. I am pleased to be working alongside David, John and four very experienced women, all of whom will be sitting on FFIT's investment committee."

David B Horne, CEO & Founder of Funding Focus Investment Trust said:

"We believe that many businesses do not lack vision or potential, they just lack access to appropriate capital and governance to help them realise their growth potential. Our role is to identify and support these visionary and innovative entrepreneurs and their companies through equity funding to fully realise their potential."

Today's LSE event which is part of International Women's Week will include talks on why female and underrepresented entrepreneurs face these significant barriers in the investment world, debates on which approaches have worked and which ones could significantly improve the situation, as well as discussion on innovative and creative routes to funding. The event starts at 13.00 GMT.

Keynote speakers are: Jane Clarke, Founder of Nourish; Olivia James, performance specialist therapist, Bente Ottersen, Founder of Titles-On and Ishveen Jolly, Founder of OpenSponsorship. There will also be a panel discussion chaired by Shalini Khemka CBE, featuring Paula Groves, Chief Investment Officer, ImpactX Capital, Daina Spedding, Investor, BGF, Alexandra Daly, CEO and Founder, AA Advisors and Sarah Turner, Founder, Angel Academe.

To find out more and register for free tickets, visit: https://www.eventbrite.com/e/funding-focus-international-womens-week-conference-2022-tickets-251307025077?aff=ebdssbdestsearch

- ENDS -

For further information, please contact the FFIT press office:

E: hello@ffitplc.com 

T: +44 771 774 2134

About FUNDING FOCUS INVESTMENT TRUST

The purpose of FFIT is to address the unfair challenges and access to capital typically faced by female and under-represented entrepreneurs as they scale their businesses. Provided the appropriate capital support and governance, Funding Focus Investment Trust believe these entrepreneurs and their companies will deliver superior returns.

ABOUT THE BOARD

Shalini Khemka, CBE, Non-Executive Chair

Shalini is Founder & CEO of E2E, which helps founders to scale and avoid many of the challenges she faced in her first business. By connecting founders, investors, NEDs, mentors and corporates Shalini has developed invaluable experience serving the entrepreneurial community and the UK economy.

Julie Pomeroy, Audit Committee Chair and Non-Executive Director

Julie has been Chief Financial Officer/Finance Director of four listed companies, Weston Medical Group plc (1999-2002), Carter and Carter Group plc (2002-05), Biofuels International plc (2006-10) and Dillistone Group plc (2010-2021) where she continues to serve as a Non-Executive Director. During her time with Dillistone Group plc, Julie led the acquisitions of three companies in transactions valued at £6 million in total.

Fran Boorman, Non-Executive Director

Fran is an award-winning business leader and author. Her business became the fastest growing in its sector with a nationwide team of over 1,000 people due to the mentoring culture she developed.

Sophie Milliken, Non-Executive Director

Sophie is a multi-award winning entrepreneur, author and speaker who built and sold her recruitment business to a private equity group. She is Chair of Smart Works Newcastle, supporting unemployed women across the north east, a supporter of Northern Power Women and co-founder of City Ladies Networking.

Mehmuda Mian, Non-Executive Director

A former solicitor, Mehmuda practised in commercial and professional indemnity litigation. Committed to rigorous standards in public life, she has taken on numerous high profile roles, including being the first female Muslim BBC Trustee and a Commissioner of the Independent Police Complaints Commission. She is a lay member of the House of Commons Select Committee on Standards. 

David B Horne, Co-Founder and CEO

David has raised more than £100 million in debt and equity funding and bought or sold twenty-four companies. In 2019 his award-winning book Add then Multiply - How small businesses can think like big businesses and achieve exponential growth was published. Also in 2019, he founded Funding Focus, a social enterprise whose mission is to level the uneven playing field that female and underrepresented entrepreneurs of all genders face when raising capital.

John P de Blocq van Kuffeler, Co-Founder and CIO

John has 34 years' experience as Chairman or CEO of listed PLCs and private equity backed companies, specialising in turning small and medium sized companies into sector leaders. He has also served for 16 years on the boards of two investment trusts, of which 10 were as Chair. Earlier in his career, he was a Department Head running 4 successful private equity funds. Since 2008 he has been Chair of three private equity backed groups: Hyperion Insurance Group, which delivered an IRR of 22% per annum between 2009-14, Marlin Financial Group, which delivered an IRR of 42% per annum between 2010-14 and Paratus AMC Limited, the sale of which is in the course of completion at a high return to shareholders.

Important Legal Information and Risk Warnings

The contents of this announcement, which has been prepared by and is the sole responsibility of Funding Focus Investment Trust PLC, have been approved solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by Beaumont Cornish Limited, acting as Sponsor to the Company, and which is authorised and regulated by the Financial Services Authority.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

Beaumont Cornish Limited is acting exclusively for the Company and no one else in connection with the proposed offer of shares in the Company, and will not regard any other person (whether or not a recipient of this document) as its client in relation to such offer and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to such offer or any transaction, matter, or arrangement referred to in this announcement to be published in connection with such offer.

Any subscription or purchase of shares in the proposed offer should be made solely on the basis of information contained in the Prospectus which may be issued by the Company in connection with such offer. The information in this announcement is subject to change. Before subscribing for or purchasing any Shares, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. Approval of the Prospectus by the FCA should not be understood as an endorsement of the securities offered or admitted to trading.

The timetable for any offer may be influenced by a variety of factors which include market conditions. Funding Focus Investment Trust may decide not to go ahead with the proposed offer and there is therefore no guarantee that Admission will occur. Potential investors should not base their financial decision on this announcement. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning any offer of securities of the Company. Potential investors should be aware that the value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of any offer of securities of the Company for the person concerned.

Nothing contained in this announcement constitutes or should be construed as (i) investment, tax, financial, accounting or legal advice; (ii) a representation that any investment or strategy is suitable or appropriate to your individual circumstances; or (iii) a personal recommendation to you.

None of Beaumont Cornish Limited or the Company and/or any of their respective directors, officers, employees, advisers and/or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in this announcement.