Capital pot for aspiring tech companies
E-Synergy, an investment company, has completed a funding arrangement for its £30 million Sustainable Technology Fund just six months after being awarded the management contract by the Department for Trade and Industry.
Andrew Stevenson, chief executive of E-Synergy, says: ‘Sustainable technology issues affect almost every part of industry, from energy production to supermarkets and through many stages of the supply chain.
‘As pressure on world raw material resources increases there will be many good opportunities for new businesses with innovative technology.’
According to E-Synergy, it is the only Enterprise Capital Fund focused on providing investment and business expertise to high-growth companies across the UK seeking to develop and commercialise sustainable technology products and services.
The ECF seeks to promote innovation, jobs and growth by bridging the ‘equity gap’ – the difficulty businesses have raising investments between £250,000 and £2 million which are sums typically too small for venture capitalists but too large for funding from friends or families (see page 22).