Completing an investment either side of the referendum wasn’t easy, Albion Ventures’ Robert Whitby-Smith says.
What is the deal?
In November 2016 we completed our investment of £1.5m in automotive technology research and consultancy, SBD. SBD is headquartered in Milton Keynes and has approximately 100 customers, including nearly all the global automotive OEMs.
SBD specialises in research and advice surrounding the increasing connectivity, autonomy and cybersecurity of cars. SBD has a proprietary database of the software and hardware systems on most car models, providing a unique level of understanding and base for insight. It was a development capital deal – we invested £1m equity and a £500k shareholder loan. The company has offices in the US, Japan, India and the UK and plans to open new offices in China and Germany during 2017. Customers prefer a local presence.
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