Vector Photonics has received £1.6m of equity investment to commercialise its unique, PCSEL-based, semiconductor laser technology. This investment comes from a consortium of three specialist funding companies – Foresight Williams, the UK Innovation & Science Seed Fund (UKI2S) and Equity Gap. Each investment company adds its own unique value to Vector Photonics Foresight and has board representation.
Foresight Williams invests in high growth-potential companies with innovative and transformational technologies via the Foresight Scottish Growth Fund and Foresight Williams, a joint venture with Williams Advanced Engineering. UK Innovation & Science Seed Fund (UKI2S) is a specialist deep-tech seed fund focused on spin outs from the UK’s research base. Equity Gap is an angel investment syndicate, investing in early, new technology businesses throughout Scotland.
Foresight WAE Technology (FWT) Funds
Foresight and WAE Technologies started their investment collaboration in 2016 with the launch of the Foresight WAE Technology (FWT) EIS Fund. 2019 saw the launch of a sister fund, the Foresight WAE Technology (FWT) VCT share class, which sits within the Foresight Solar & Technology VCT plc. These two funds target investment in companies developing innovative and transformational technologies where Foresight’s and WAE’s expertise and services can be harnessed to assist with the development of the businesses, with the objective of achieving successful exits at high-value multiples.
Clean Growth Fund
Clean Growth Fund was launched in May 2020. It is a £101m venture capital fund that is targeting the UK’s most promising early-stage “clean growth” companies that are pioneering carbon emission reductions in the areas of power and energy, buildings, transport and waste. Its remit is to drive superior financial returns for investors and accelerate the development and commercialisation of clean growth technologies in the UK – leading to the creation of new and skilled jobs across the country and contributing to the UK’s efforts to deliver net zero by 2050.
UK Innovation & Science Seed Fund (UKI2S)
UKI2S is a national seed investment fund that helps the UK to build innovative businesses, leverage private investment and grow jobs. UKI2S achieves this by nurturing new businesses arising from the great science undertaken in the UK; providing the patient, long-term committed capital and strategic advice these companies need.
Over the past decade and more UKI2S has built a substantial track record with 57 portfolio companies created – with only £15m of capital from UKI2S – that between them have attracted over £500m of later stage investment and now have a combined market value of over £750m.
UKI2S works closely with its partners – led by STFC, BBSRC and NERC, which are all part of UK Research & Innovation (UKRI) and Dstl – and is aligned with the Catapults and Innovate UK to create the best environment for innovation to flourish and in turn, boost the UK’s competitiveness and productivity by commercialising key technological advances in industrial biotech, ag tech, healthcare, medicine, clean energy, materials, artificial intelligence, software and space.
Scottish Enterprise is Scotland’s national economic development agency and a non-departmental public body of the Scottish Government. It helps businesses innovate and scale to transform the Scottish economy by focusing on new market opportunity areas through targeted investment, innovation and internationalisation.
Equity Gap is an Edinburgh based angel investment syndicate, established to help match investors with entrepreneurs looking for early stage business funding.
Equity Gap aims to make investing accessible and enjoyable for our members through collaboration, a peer network and centralised administration.
Equity Gap support prospective companies with access to its broad base of knowledge and expertise, including support for pitching to our members.
Equity Gap members currently invest in over 30 companies, leveraging over £70m in total investment into this portfolio. Equity Gap investee companies have created over 400 jobs, primarily in Scotland, across a range of sectors including consumer product, food and drink, life science and SaaS.