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Operating Model
Key differentiators
We work with companies to ensure they have access to the right type of funding and proactive management support specific to their sector, stage of development and opportunities.
Capital efficient investment strategy
We use a combination of funding sources to gain (and increase) direct and indirect stakes in our portfolio companies, including syndicated investments, selective balance sheet investments to gain deeper stakes, as well as deploying funds from our Funds practice. This provides us with capital gain opportunities when we exit portfolio companies through direct disposals and carried interest from exit realisations for our investor base.
Proactive portfolio management
We believe proactive management is key to obtaining superior returns and protecting the value of our holdings. Our approach involves taking Board positions, working closely with management and maintaining strong relationships with co-investors to coordinate strategies and objectives. We are an active, engaged investor deploying our expertise.
Value creation services
We concentrate on a select cohort of companies at a time, driving growth and investment realisations through fundraising support and value creation services. Our in-house operational team, venture partners, and panel of expert service providers offer support across functions including investment readiness, exit readiness, IP strategy, corporate collaborations, financial functions, and senior executive placements.
Operational income sources
Our financial realisations and income model is to finance the operations through a combination of operational fee income and modest divestments.
Financially self-sufficient
Starting from nil in 2020, the Group now has multiple sources for ongoing income including fees in connection with corporate finance and advisory, board seats, annual management, Value Creation Services, and recurring Fund management fees. We also expect to execute profitable partial sales of portfolio holdings. The combination has enabled us to remain self-sufficient during the period, eliminating the need to access capital markets for support.
Capital realisation channels / ‘routes to exit’
We target the realisation of venture-type/outsized investment returns through strategic partial or full exits from our directly owned positions (direct cash) and carried interest from Fund management exits. These exits are realised through M&A, IPOs, or sales to PE and other financial investors. This approach maximises value for our stakeholders through a variety of well-planned exit strategies.
Deepening direct stakes
Our proactive investment approach enables us to selectively build stakes in portfolio companies through a mixture of modest balance sheet investments, accepting fees as equity, co-founding businesses, and making selective paper acquisitions.
Funds under management
We are expanding our Funds under management through a mixture of deal-by-deal syndication and establishing Funds. This provides us with additional investment capability in existing and new portfolio companies, additional management fees income and additional carried interest potential.
Unique Venture Capital approach
Our strategy is in line with changes in the Venture Capital landscape. The industry’s focus is increasingly shifting towards our target sectors, driven by advancements in artificial intelligence, robotics, semiconductors, and breakthroughs in life sciences. We believe that the time is right for the growth of new leaders in the VC industry, driven by a differentiated investment model.
This compelling investment theme requires our unique VC approach, encompassing skillsets, engagement models, expertise, and capital deployment strategies tailored to deep tech investments. We are confident that our management team’s investment and portfolio development strategy, along with our established processes and ‘playbooks’, will meet this demand.
Business model
Unique investment strategies for each company, value creation programs and investor director representation.
Identifying
EMV Capital works proactively with early-stage companies to fast-track their commercialisation and investment readiness. Companies are guided through targeted key value inflection points and the release of value through various exit options.
Investing & Funding
A carefully leveraged investment model is used, with EMV Capital’s balance sheet investments being leveraged through syndication and partnering with other investors.
Managing & Developing
The Group forms game-changing companies based on core technological research and innovation, commercialisation roadmaps and the pragmatic execution of plans. This generates tangible economic value for the specific sectors.
Differentiated investment model
Our goal is to become a leading VC investor in the deep tech and life sciences sectors, both in the UK and internationally.
We are already making tangible progress towards leading the next wave of Venture Capital investment by discovering, nurturing, and preparing early-stage deep tech and life sciences companies with attractive Intellectual Property for growth.
By enabling these companies to realise their full potential and make a real-world impact, we aim to generate outsized returns for our investors. Our proactive investment approach focuses on fast-growing sectors that will shape the future of our society.
Capital reinvested
Capital returned to shareholders
Identify opportunity
Incubate
Growth
Release value