Finance Wales and Biofusion partnership first investment
14/08/07
Finance Wales and AIM listed Biofusion have entered into their
first partnership deal as part of a £2 million funding round for
Cardiff-based Q Chip Ltd, a leading developer of microencapsulation
solutions.
The deal involves Finance Wales and Biofusion investing a total
of £250,000 into the life science company alongside existing
shareholders E-Synergy and individual shareholders including Jon
Moulton, Managing Partner of Alchemy Partners and Forum des
Entrepreneurs, a high net worth group of angel investors chaired by
Maxime Mitterand.
The participation of Finance Wales in the investment round signals
its first deal as part of a partnership with Biofusion, the
university IP commercialisation company that turns world class
research into business.
Steve Smith, Director of Development Funding at Finance Wales,
said: “Q Chip reflects Finance Wales’ commitment to investing in
high growth, knowledge-based businesses and marks our first
syndicated investment with Biofusion under our collaborative
partnership. Q Chip displays all the key attributes that we look
for – pioneering technology, strong IP and a talented management
team with clear routes to market.”
David Baynes, Chief Executive of Biofusion, said: “This deal
represents the first investment we have made with Finance Wales. It
clearly demonstrates the value of our relationship and the
prospects for future wealth creation opportunities for the Welsh
economy.”