FPI in €10m round for ANF Technology
Russian venture capital investor FPI has contributed to a €10m funding round for UK-based natural sciences and engineering firm ANF Technology.
FPI co-invested in ANF with the venture capital division of a major family office. The €10m investment is divided into two tranches of €2m and €8m. FPI invested through the FPI Innovation Fund.
FPI led a €1m seed investment in the company in 2010. In early 2012, the company received a second round investment totalling €500,000, which saw new investors participate.
Company
Founded in 2010 and based in the UK, ANF Technology is a producer of high quality nanofibres. The firm's nanofibre has physical and mechanical properties that allow it to be produced on a large scale and with commercially viable pricing.
Potential applications span composite ceramics, paints and coatings, fuel cells, polymer composites, catalysts, electronics, filtration, biomedicine, advanced abrasives, aviation and aerospace.
People
Alexander Timofeec is a managing partner at FPI and led the deal.
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