UK - Sigma announces two new investments

The STVF has led a total investment round in Nandi of £660,000. STVF invested £300,000 as lead investor alongside the Scottish Co-investment Fund, which invested £300,000 and a group of individuals, including the chairman who invested £60,000.

Nandi is a development stage biotechnology company that spun-out of Heriot-Watt University in 2001. The company has developed modified protein technology for use in the food and drink production industry. This investment in Nandi follows on from two previous investments led by Sigma, taking the total funding arranged by Sigma to £1m.

Neil Crabb, managing director of Sigma, joined the board as a non-executive director at the time of Sigma’s first investment in 2004 and will continue on in this role. David McCartney, formerly managing director of Fiske Food Ltd and recently a director of Mayfair Foods Ltd, joined Nandi as CEO immediately prior to the investment.

The STVF has led a total investment round in Exterity of £830,000. STVF invested £325,500 as lead investor alongside the Scottish Co-investment Fund, who invested £325,500, LINC Scotland, who invested £15,000, and a group of private investors, who invested £150,000.

Exterity, founded in 2001, develops and supplies a range of products that distribute TV and video around business and campus networks for corporate, education and hospitality organisations. Exterity’s customers include Aston University, Gibraltar Hospital, Reuters, SAB Miller and the Metropolitan Police. This round of funding will be used to support further expansion of the company’s commercial activities both in the UK and Europe. Mark Hogarth, investment director at Sigma, will join the board as a non-executive director.

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• Topics
• Early-stage
• UK / Ireland
• Consumer