Staffed by a team of dedicated information professionals, the ICAEW Library Enquiry team has a wealth of skills and experience, as well as access to professional information resources not freely available online. In a recent enquiry, the team’s expertise, diligence and creative thinking came together to help a member navigate the complex landscape of venture capital.
Finding investors for a specialist medical start-up
The team were presented with the challenge of identifying venture capital firms suitable for an innovative start-up operating in the medical supplies sector. The start-up was based in the North West of England.
They began with some of the main sources of investor information from organisations such as the British Private Equity and Venture Capital Association (BVCA) and the UK Business Angels Association. Through an online search, the team also found various investor networks with a specific focus on the North West region.
Although a useful start, they knew that locating investors with a track record of investing in similar companies would increase the likelihood of securing funding for the start-up.
A more targeted search
The team turned to company information database FAME to help them achieve a more targeted list of investors. Crafting such a specialised search posed a challenge, one they got around by skilfully combining several search strategies.
Firstly, a multilayered search was constructed based on the following criteria:
- active companies
- registered office or primary trading address in the Midlands or North
- UK SIC code 3230 - Manufacture of sports goods or 32500 - Manufacture of medical and dental instruments and supplies
- shareholders which include Private Equity or Venture Capital firms
This generated a list of medical supply companies in the region with Private Equity or Venture capital firms amongst their shareholders.
The team then proceeded to isolate the names of the shareholders, using them as a basis for a second search within FAME. This yielded additional insights into the investor companies. A report was then created by the team, containing full details of the private equity and venture capital companies currently invested in medical supplies manufacturers in the region. This included business descriptions, key financial data, contact details and other useful information.
Uncovering further investment opportunities
The report from FAME interestingly included a number of German and Dutch investment companies. Thinking creatively, the team chose to explore this European angle in greater depth.
A subsequent press search revealed a growing medical technology industry across Europe. Seeing another potential opportunity for funding, the team went on to identify other investment firms actively involved in this space.
A valued result
Through a combination of expertise, persistence and creative thinking, the enquiry team successfully identified a number of potential investors for the start-up. It was a research result that surpassed the member’s expectations:
The quality of the work done and response I received was beyond what I had imagined I might get. Thank you very much indeed for this service, and how it is delivered. I shall most certainly be coming back for more, telling others along the way.
I was searching for this information as a NED of a small innovative healthcare startup. Now at a stage where I have a “portfolio career’ mixing for profit and charitable institutions where we don’t have deep pockets, the ICAEW library resource is of even more value than I used to recognise.
How the ICAEW Library Enquiry Service can help you
Find out more about the Library Enquiry Service and the full range of accounting and business topics the team can help with:
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