TIDMNSCI
RNS Number : 9234L
NetScientific PLC
16 September 2021
NetScientific plc
("NetScientific", the "Group" or the "Company")
I nvestment in Martlet Capital Limited
London, UK - 16 September 2021 - NetScientific plc (AIM: NSCI),
an active holding company in life sciences and sustainability
technology investment, is pleased to announce an initial GBP1m
investment in Martlet Capital Limited ("Martlet Capital"), which
intends to acquire a portfolio of minority interests in the
Cambridge high-tech cluster.
NetScientific's fully-owned subsidiary EMV Capital Limited ("EMV
Capital") has co-led a first close of a GBP12.0m investment into
Martlet Capital, which has yet to start trading, alongside leading
private office Saranac Partners. The investment is expected to
enable Martlet Capital to complete the acquisition of a portfolio
of over 50 minority investments of Marshall of Cambridge Limited,
the "Martlet Capital" trading name and the team managing the
investments. The investments include companies in life science,
healthcare, cleantech, sustainability, industrials and
semi-conductors (the "portfolio companies"), many with
co-investments by some of the leading Cambridge and UK investment
groups.
Martlet Capital is targeting an eventual total raise of
approximately GBP22m over the next 6 months, which would enable
significant further investment into selected portfolio companies
and new investment opportunities. Martlet Capital aims to become
the leading investment house for early-stage Cambridge technology
cluster companies.
NetScientific's initial investment in Martlet has resulted in an
initial equity interest of 6.8%.Through its "capital light"
approach, EMV Capital intends to introduce syndicated investment
into Martlet from its investor network, so reducing its initial
investment from GBP1.0m to GBP0.25m. Following completion of the
targeted GBP22m raise and the syndication of NetScientific's
initial investment, it is expected that the Group's direct
investment in Martlet will fall to circa 1%, but it will retain a
significant interest through its "capital under advisory".
As a result of its investment in Martlet, the Group, together
with Saranac Partners and Martlet, intends to establish shortly a
follow-on funding vehicle Cambridge Marquity Investments Limited
("Marquity"), which is expected to be 40% owned by the Group in
return for a GBP100,000 investment. The Group expects to make
future judicious investments through Marquity, targeting the more
advanced portfolio companies, which show the requisite strong
performance to add shareholder value and realise returns. Finally,
the Group intends to provide a line of credit of up to GBP1m to
Marquity, enabling it to operate quickly and decisively, and
capitalise on emerging opportunities from Martlet Capital.
NetScientific CEO, Dr. Ilian Iliev, will join the Board of
Martlet and intends to join the Board of Marquity as a
Non-Executive Director.
Ilian Iliev noted: "This investment marks another step in
NetScientific's expansion strategy, and demonstrates the potential
of NetScientific's investment approach to generate continued growth
in value. We now have proprietary access to top-quality deal flow
from one of the world's leading technology clusters in Cambridge,
with a strong scale-up investment partner. The detailed work,
analysis, due diligence and investment planning performed by our
team, as well as the experience of the Martlet team and our
co-investment partners provides us with confidence that we will see
significant growth in the value of the underlying assets.
"In line with our business plans, this investment will
facilitate additional transactional fees and revenues to the group,
add to the direct investment value, deploy the capital-light
investment model, add to our Capital Under Advisory, and open up
new opportunities."
John Clarkson, Chairman of NetScientific commented: "This is an
exciting transaction for NetScientific with the limited financial
investment in Martlet allowing us to take a 40% interest in the
follow-on investment vehicle Marquity. This puts us in a prime
position to select the most promising deals from the high quality,
targeted portfolio which can deliver significant growth
opportunities. It gives us access to the growth stories of
successful technology companies emerging from the world class
Cambridge ecosystem.
"The NetScientific Board expects to see a number of compelling
opportunities arise from this arrangement and welcomes the
relationships it brings to the group.
"NetScientific has established a clear strategy for the
continued growth and success of the company, through a
well-balanced portfolio, proactive management and structured
investment programme. This judicious investment reflects the
planned, focused next step, with further substantial prospects from
follow-on opportunities, to add shareholder value and realise
returns."
Further announcements will be made when appropriate. The related
EMV Capital press release can be seen at
https://emvcapital.com/news/
This announcement includes inside information as defined in
Article 7 of the UK version of Market Abuse Regulation No. 596/2014
as it forms part of UK law as retained EU law as defined in, and by
virtue of, the European Union (Withdrawal) Act 2018, as amended,
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Nick Rome/ Paul McManus/ 07748 325 236, 07980 541 893
Nicholas Johnson or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is an active holding company, that
invests in, develops, commercialises and realises shareholder value
in life sciences/healthcare, sustainability and technology
companies, which offer significant growth potential predominately
in the UK and USA, as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: https://netscientific.net/ ).
About EMV Capital
https://emvcapital.com/
EMV Capital Ltd (EMVC), a fully-owned subsidiary of AIM-listed
NetScientific PLC, is a London-based award-winning investor focused
on B2B companies in the healthcare, sustainability and industrials
sectors with investments in the UK, US and Israel. EMVC's model is
to develop a customized investment strategy for each company,
combining its network of investors from Family Offices, Wealth
Managers, Institutional VC investors and Corporate VC funds. EMVC
recognizes the benefits of corporate engagement for early-stage
technology companies, with EMVC's team having led and structured
investments alongside some of the world's leading corporations. EMV
Capital has a growing EIS investment practice, and is an exclusive
advisor to the EMVC Evergreen EIS Fund.
EMV Capital Limited is an appointed representative of Sapphire
Capital Limited, which is authorised and regulated by the Financial
Conduct Authority.
About Martlet Capital
www.martletcap.com
Martlet Capital, the investment arm of Marshall of Cambridge
Limited, is an early-stage investor based in Cambridge, which has
invested in more than 60 start-ups with high growth potential,
since its launch in 2011. Martlet Capital provides patient capital
for IP rich, early-stage B2B start-ups, with a primary focus on
deep technology and life science companies based in Cambridge. The
team is comprised of experienced investors and entrepreneurs. In
addition to capital, the team offers value beyond capital through
support, experience and a network of contacts. Over the last decade
they have achieved several exits from their portfolio, helping
companies scale from first-round through to exit from trade sales
to global technology companies and IPO's.
About Saranac Partners
www.saranacpartners.com
Saranac Partners is a Private Office based in London. It works
with families, business owners and private investors across Europe,
the Middle East and Asia to deploy and access capital.
Saranac Partners offers a range of services across Strategy,
Investments, Financing and Corporate Advisory. It oversees
allocation and deployment of capital across private and public
markets and manages, advises and oversees client portfolios. It
provides access to diverse sources of capital and works with
business owners and management teams to provide insight and support
for corporate interests. The firm is owned by long-term strategic
investors and staff. Saranac Partners Limited is authorised and
regulated by the Financial Conduct Authority.
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