EV invests in new era for fish food

ENTERPRISE Ventures, the Preston-based venture capital firm, has invested £150,000 in a fish food company.

New Era Aquaculture, which develops and makes advanced fish feeds, received a further £150,000 equity linked investment from the South Yorkshire Investment Fund, on top of the money from Enterprise Venture’s Coalfields Enterprise Fund.

The company will use the money to grow export sales and to expand its manufacturing facility in Thorne, near Doncaster.

Paul Taberner, investment director for the deal at Enterprise Ventures, said: “The New Era product range has clear areas of advantage over the competition and as a substitute for traditional methods of feeding captive and ornamental fish. We believe the company is extremely well placed to continue recent growth into new geographical markets”.

Richard Bamford, executive chairman of Enterprise Ventures, said, “EV is delighted to have completed this syndicated investment in New Era Aquaculture, which is a further illustration that, despite the current recession and market liquidity issues, the regional venture capital market is very definitely open for business”.

The Coalfields Enterprise Fund is managed by Enterprise Ventures on behalf of the Department for Communities and Local Government and was set up to finance the growth of companies and encourage entrepreneurship in former coalfield areas.