The corporate finance team of UK law firm SGH Martineau has advised new client TIME Investments and Reboot Ventures on the formation of TIME:REBOOT VCT, a new venture capital trust designed to invest in commercially proven ex-military entrepreneurs.
Partner and head of the corporate finance team Kavita Patel says: “This is a unique VCT which aims to raise at least GBP20m by the end of April 2014, with similar amounts targeted in future tax years. Instead of selecting a particular sector for investment opportunities, the fund is backing the entrepreneurial spirit and leadership qualities of ex-military personnel, expected to make a success of whatever business they set-up or manage.”
TIME:REBOOT VCT is managed by TIME Investments, an experienced investment manager, with investment advice from Reboot Ventures, a new venture founded by Stuart Nicol with the strategic objective of supporting ex-military entrepreneurs. Nicol served with the Argyll and Sutherland Highlanders, before gaining over 15 years of experience in SME investing.
Nigel Ashfield (pictured), managing director of TIME Investments, says: “Ex-military entrepreneurs have a number of qualities that make them stand out in the business world. These include resilience under pressure; determination, discipline and adaptability.
“When seeking the support of professional advisers, I look for similar qualities to those possessed by the individuals we are aiming to support in their business careers. Bringing in a project like this, on time and to budget requires a similar resilience, determination and discipline.”
Nicol adds: “I hope this is just the first in a long line of innovative approaches that will help unlock the potential that exists in the more than two million military veterans in the UK of working age. Our team have the necessary skills to identify the opportunities and we already have a strong pipeline of potential investments.”