SGH Martineau advises on new VCT for ex-military entrepreneurs
THE Corporate Finance team at SGH Martineau has advised new client TIME Investments and Reboot Ventures on the formation of TIME:REBOOT VCT, a new Venture Capital Trust designed to invest in commercially proven ex-military entrepreneurs.
Partner and head of the Corporate Finance team, Kavita Patel said the VCT aimed to raise at least £20m by the end of April 2014, with similar amounts targeted in future tax years.
“Instead of selecting a particular sector for investment opportunities, the fund is backing the entrepreneurial spirit and leadership qualities of ex-military personnel, expected to make a success of whatever business they set-up or manage,” she said.
“The senior management of TIME Investments and Reboot Ventures spoke to a number of law firms, but were impressed by our ability to not only handle the necessary legal, tax and compliance issues, but project manage the entire process utilising the talent and experience within SGH Martineau. This genuine ‘one-stop shop’ offering saves our clients a lot of time and money; it allows them to concentrate on the decisions that matter.”
The team led by Patel, included experienced corporate finance partner Andrew Glaze, who specialises in mergers and acquisitions, and corporate finance transactions. They were supported by associate Robert Newman.
TIME:REBOOT VCT is managed by TIME Investments, an experienced and innovative investment manager, with investment advice from Reboot Ventures, a new venture founded by Stuart Nicol with the strategic objective of supporting ex-military entrepreneurs.
Nicol served with the Argyll and Sutherland Highlanders before gaining spending 15 years helping SMEs with their investments.
Commenting on the launch, Nigel Ashfield, managing director of TIME Investments said: “Ex-military entrepreneurs have a number of qualities that make them stand out in the business world. These include resilience under pressure; determination, discipline and adaptability.
“When seeking the support of professional advisers, I look for similar qualities to those possessed by the individuals we are aiming to support in their business careers. Bringing in a project like this, on time and to budget requires a similar resilience, determination and discipline.”
Nicol said the decision to use the law firm had hinged a lot on a previous working relationship with Ms Patel.
“I hope this is just the first in a long line of innovative approaches that will help unlock the potential that exists in the more than two million military veterans in the UK of working age. Our team have the necessary skills to identify the opportunities and we already have a strong pipeline of potential investments,” he said.
