Amadeus launches £20m ECF with government backing

UK technology venture capital firm Amadeus Capital Partners has launched a £20 million enterprise capital fund (ECF) with backing from the UK government.
 
The Amadeus and Angels Seed Fund (AASF) has been formed with £6.5 million of government funding, in addition to £3.5 million from business angels and private investors and up to £10 million from Amadeus.
 

This space is where some of the world’s most disruptive technologies have started and is a vital part of the UK’s future. Laurence John, CEO, Amadeus Mobile Seed Fund

The new vehicle will target seed-stage technology companies in the UK and will be managed by Laurence John, CEO of the Amadeus Mobile Seed Fund, which previously raised £3 million in 2001 to invest £250,000 to £1 million in Series A round investments in technology start-ups.
 
To date, the Amadeus Mobile Seed Fund has invested in two companies: Cambridge-based Nujira, a developer of power amplifier technology for the wireless industry; and London-, Silicon Valley- and New York-based Enigmatic, which develops execution management systems for datacentres.
 
AASF is expected to make up to ten investments, supported by follow-on financing and access to Amadeus’ global technology networks in order to help the businesses attract Series A financing.
 
John said in a statement: “We work closely with a number of angel investors; they are an important part of seed financing, especially in our business where the idea is often driven by technology entrepreneurs with little or no business experience. This space is where some of the world’s most disruptive technologies have started and is a vital part of the UK’s future.”
 
Founded in 1997 by Anne Glover, Hermann Hauser and Peter Wynn, London and Cambridge-based Amadeus Capital Partners has backed over 50 companies in the UK and Continental Europe in computer hardware and software, mobile and fixed communications and medical technologies. The firm currently manages £288 million of assets.