Deal round up 18/09/02

Northern Ventures backs Horncastle MBO; Neuro3d secures HealthCap backing; Columbitech increases venture funding

Northern Ventures backs Horncastle MBO

Northern Ventures Managers (NVM), the UK venture capital firm with offices in Newcastle, Edinburgh and Reading, has backed a £13m management buyout of East Yorkshire-based temporary building construction firm Horncastle Industries.

Northern Ventures Managers, established in 1988 and part of the Edinburgh Fund Managers group since June 2000, contributed £5m in equity and Barclays £7.5m in debt funding for the management team which includes Malcolm Taylor, managing director, and Stephen Trebble.

NVM specialises in making equity investments of between £500,000 and £5m in UK unquoted companies. The firm has in excess of £150m under management.

Neuro3d secures HealthCap backing

Neuro3d, the French biopharmaceuticals business based in Mulhouse, has completed a second round of financing from a list of European venture capital firms including Sofinnova Partners and Apax Partners.

The round was led by Swedish medical investor HealthCap, which this week closed its fourth fund at E330m, and German investor TVM. The E20m fundraising will be used to continue its research into diseases of the central nervous system.

Columbitech increases venture funding

Swedish wireless security firm Columbitech has raised a further $2.7m in its latest round of fundraising, increasing the total raised by the Stockholm-based company to $6.5m.

The firm has secured investment from five European venture capital firms, including Ledstiernan, Servisen and Pelago Venture Partners. The latest fundraising will be used to boost Columbitech’s market share in the US market. The business has already struck US partnerships with businesses including Symbol Technologies and Hewlett Packard.