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NVM Private Equity Limited

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NVM Private Equity Limited

Overview:

NVM Private Equity Limited is an independently-owned firm of venture capital managers with over 20 years experience of investing in UK businesses. We manage five investment funds, four of which are Venture Capital Trusts (VCTs) and our funds under management exceed £200 million.

NVM is a generalist investor specialising in making equity investments between £2 million and £10 million in UK unquoted companies.

Established in 1988, NVM is owned by its employees following a management buy-out from the Aberdeen Group in December 2003.

History:

October 1984 Northern Investors Company Limited (NIC) is established in Newcastle upon Tyne as a self-managed investment company with capital of £5m

October 1988 NIC executives set up NVM Private Equity Limited (NVM) as an independent venture capital management company with a contract to manage NIC’s investments

February 1989 NVM raises a new £15m, 10-year limited partnership, Northern Venture Partnership Fund (NVPF), to invest alongside NIC

August 1989 NVM opens Edinburgh office

April 1990 NIC becomes a public company, raises £2m through a rights issue and is listed as an investment trust on the London Stock Exchange with an opening share price of 200p

February 1995 NVPF’ funds are fully committed and it ceases to make new investments

October 1995 Northern Venture Trust PLC (NVT) is floated as a Venture Capital Trust under the 1995 Finance Act rules and raises £15m through a public share offer

April 1997 NVT’s second public share offer raises £20m

July 1997 NIC net asset value per share reaches 500p

September 1997 100th investment since 1984 completed

July 1999 Northern 2 VCT PLC raises £21m through a public share offer

June 2000 NVM joins the Edinburgh Fund Managers group and manages venture capital funds totalling over £90m

September 2000 NVM opens Reading office

December 2000 Northern AIM VCT raises £22 million through a public share issue

January 2001 NIC completes £10 million open offer and placing

June 2001 Northern 2 VCT raises £22 million through a top-up share issue

September 2001 NVM launches a new generalist VCT - Northern 3 VCT PLC

December 2003 NVM completes buyout from Aberdeen Group

March 2005 Northern Venture Trust is extended until 2010 and launches 10% tender offer to shareholders

April 2005 Northern 3 VCT raises over £10 million in share issues in 2004/05 tax year

April 2006 Northern Venture Trust raises £20 million through a C share issue in 2005/2006 tax year

April 2006 Northern 2 VCT raises £6 million through a top-up share issue in 2005/2006 tax year

January 2007 Northern Venture Managers Limited re-brands to become NVM Private Equity Limited

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