Cambridge-based Martlet Capital is an early-stage deep tech investor that has backed over 60 startups with high-growth potential. Today, a London-based pan-European investor focused on B2B companies, EMV Capital (EMVC) has announced that it has invested £12 million into Martlet Capital along with Saranac Partners, a leading private office and other investors.
Eyes to expand its portfolio
With this investment, Martlet Capital intends to complete the acquisition of over 50 minority positions from Marshall Group, including companies across cleantech sustainability, healthcare, life science, industrial and semiconductor technology. The overall targeted investment is £22 million, and it will provide Martlet Capital with significant power to make new and follow-up investments.
Furthermore, the deal includes the proposed creation of follow-on funding vehicle ‘MarQuity’, which will be 40 per cent co-owned by EMV Capital alongside Saranac Partners and Martlet to provide scaleup capital for targeted companies from the portfolio. EMV Capital intends to make a seed investment of £100K in MarQuity. It plans to provide a line of credit of up to £1 million to MarQuity to provide substance and effective response to market opportunities.
The investments are backed by EMV Capital’s parent company AIM-listed NetScientific PLC. NetScientific CEO and EMV Capital MD, Dr.Ilian Iliev, played a lead role in the deal structuring and will join the boards of Martlet Capital and MarQuity as Non-Executive Director.
He stated, “This investment represents a significant step forward in EMV Capital’s growth path, through an expanded footprint, a new high-quality deal flow channel, increased Capital Under Advisory, and developing further opportunities to deploy our capital-light investment model. We are excited to work with Martlet Capital and Saranac Partners in building a unique proposition in the world-leading Cambridge cluster. The combination of Martlet’s early-stage investment focus and existing networks; EMV Capital and Saranac Partners’ follow-on investment support through MarQuity; and access to international growth opportunities provides a unique platform to nurture the next set of champions emerging from Cambridge.”
Robert Marshall, CEO of Martlet Capital said, “Martlet is looking to establish itself as an important seed stage investor in the Cambridge deeptech start up ecosystem. With an outstanding team and long-standing relationships with the University of Cambridge and the local technology and investment community we aim to be the seed stage funding partner of choice. The backing and partnership with EMV and Saranac substantially enhances our ability to invest in more deeptech companies and with the addition of the Saranac/EMV led follow on MarQuity fund giving us the ability to see these companies through inception all the way to exit.”
Robert Crowter-Jones of Saranac Partners, added: “Saranac Partners was established for private investors to gain access to unique investment opportunities and ecosystems. We believe that the Martlet Capital’s team and portfolio creates a very exciting platform within intellectual property emerging from the Cambridge cluster, and will be a natural home for new technologies, entrepreneurs and investors.”
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