Rainbow Seed Fund – Technology
January 19, 2009 Leave a comment
This £1.5m fund draws from the UK Government’s ‘Public Sector Research Exploitation (PSRE) fund and supports business formation for early stage ideas in scientific breakthroughs and research.
“The Rainbow Seed Fund is an independently managed seed capital fund dedicated to investing in technologies from the publicly funded research base. The Rainbow Seed Fund will use this funding to accelerate early stage and high risk ventures through the early introduction of experienced entrepreneurs into spin-out companies in order to shape the business and support small business creation in the UK. Set up in 2001, to date Rainbow Seed Fund has invested £3.5m in helping to create 17 spin out companies which between them have raised well over £35m additional capital, one of the highest leverage multiples in the sector. This £1.5m award takes Rainbow Seed Fund’s total asset base to £10m. Bruce Smith is the Chairman of Rainbow Seed Fund’s advisory board.”
More information can be seen here.