UK - ETF leads £13m investment in Metalysis

Environmental Technologies Fund (ETF) has led a £13m funding round for Metalysis, a technology business for the specialty metals industry. 3i, QinetiQ, Seven Spires, Chord Capital and Cambridge Capital Group also participated in the round. The investment is to be used to support Metalysis in taking three product lines to commercial production using its patented technologies ahead of a possible stock market listing. The deal represents the first for ETF. Existing investor 3i co-led a £5m investment in the company in 2005. In 2003, the Cambridge University spinout company received £250,000 of early-stage funding from The University of Cambridge Venture Capital Fund.