New fund only puts cash in to the county

A new fund is the “first of its kind” and will only be put investor’s money into Yorkshire businesses.

The Yorkshire T20 Portfolio, which has been launched by Mole Valley Asset Management, claims it will only invest in 20 listed companies based in the county as part of the firm’s “commitment to local community-based asset management”.

According to The Guardian, the fund, which requires a minimum investment of £20,000 is currently backing Wetherby-based biotech firm Avacta, which has seen its shares price rise by 1471% since 18 March.

Duncan Sanford, director and portfolio manager at Mole Valley who heads up the firm’s Yorkshire operations since it launched a York office in February 2019, said the aim was always to have a local fund.

“We’ve seen the tide starting to turn for some time, with people looking increasingly to be part of their local economies.

“We can only see that counter-globalisation drive increasing post-Covid-19 as people reassess their priorities in all aspects of their lives. And if they are increasingly looking to shop local, why not invest local as well?”

Sanford added that the region is full of potential and that selecting the 20 listed businesses to include in the fund was difficult.

He said: “We believe what we have come up with is an excellent group of listed firms which are either already hugely successful or, in many cases, about to break through.”

One of the firms Sanford highlighted as exciting in the fund is Sheffield based Zoo Digital. The firm which is based in Sheffield works globally from offices in London, Dubai and Los Angeles, to help production companies get their films and TV shows to market using the latest technology.

With clients including Hollywood’s major players, the future is looking great for the firm which is at the forefront of technology and Covid-19 isn’t holding it back. The firm says it has experienced increased levels of interest from clients as well as enquiries from new prospective contacts.

Dr Stuart Green CEO at Zoo Digital said: “We are seeing a lot of interest at the moment but we will just have to see what happens when the pandemic is over, whether once studios open again the industry will revert to its conventional ways of operating, or people will appreciate the benefits of the virtual method. We hope they’ll value the advantages we offer of security, efficiency, reliability, flexibility and cost savings, and be pleased with the results.”

And on being included in Mole Valley’s new portfolio of Yorkshire businesses he added: “We have always been incredibly pleased by the amount of local private investor support we receive. This portfolio provides another platform and a new way to reach a wider local audience of investors who are eager to support local businesses.

“Being part of a portfolio like this is very helpful. It enables more local participation and engagement, and that’s important for us to raising the profile of the region.

“We draw on our local community in Yorkshire for staffing, and we collaborate with local universities. ZOO Digital might operate on a global scale but it’s important to us to raise our local profile and give our community a business they can be proud of.”

Sanford added: “ZOO Digital is an example of a Yorkshire T20 portfolio firm that has not only already enjoyed enormous success, but its approach to innovation and evolution means it is set to grow even further as the boundaries of what new tech is capable of are continually pushed back.”

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