Braveheart in profit and seeing opportunities for Neon

NEON, the company that manages the £48m Finance Yorkshire Equity Fund, has expanded its team as it sees its investment pipeline improve.

The organisation, led by Andrew Burton, forms part of Braveheart Investment Group.

Neon’s team stands at 10 and includes two business development officers who are responsible for marketing and sourcing deal-flow. 

“The pipeline has improved significantly and the team is working hard completing equity or equity-linked debt deals with threshold limits of £100,000 and £2m,” Braveheart said today.

For the six months ended September 30, Braveheart saw its fee based revenue increased by 119% to £1.36m and posted a profit – £67,000 – for the first time.

The group has funds under management of £120m.

Braveheart said it would continue its strategy of building the investment management and corporate finance areas of the business and that its target SME market was “the engine room of the UK economy”.

“This will be achieved by winning further fund management mandates, by extending our corporate finance area of operations, and by M&A activity where appropriate,” it said.

“Alongside this, we will continue to look for optimal-value exits for our portfolio assets which are currently valued at £3.5m.”