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Investing for Growth

1 Kings Arms Yard, London EC2R 7AF


T: +44 20 7601 1850 www.albion-ventures.co.uk

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Contents

Albion Ventures

Investment Team

Albion approach

What we invest in

Sector focus
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Albion Ventures LLP

Generalist UK equity investor

325m funds under management


275m in VCTs
50m in Albion Community Power

Over 150 investments made since business


founded in 1996

Team of 30 covering the UK


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Investment Team
Partners have an average tenure at Albion Ventures of 12 years
Experience across the team includes corporate finance, accountancy, management consulting,
property and medicine

Patrick Reeve Will Fraser-Allen Adam Chirkowski Dr. Andrew Elder Emil Gigov David Gudgin
Managing Partner Deputy Managing Investment Manager Partner Partner Partner
Partner

Patrick Reeve Will Fraser-Allen Adam Chirkowski Dr. Andrew Elder Emil Gigov David Gudgin
Managing Partner Deputy Managing Investment Partner Partner Partner
Partner Manager

Robert Henderson Dr. Christoph Ruedig Henry Stanford


Partner Robert Whitby-Smith Marco Yu
Investment Manager
Robert Henderson Ed Lascelles Dr. Christoph RuedigPartner Henry Stanford Partner Robert Whitby-Smith Investment
Marco Director
Yu
Investment Manager Partner Partner Partner Partner Investment Director
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Albion Approach

Supportive shareholder taking long term views


(evergreen funds)

Highly experienced and pragmatic team

Deep knowledge of core sectors

Strong relationships with outstanding


management teams

Flexible deal structures

Quick decision making


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What We Invest In

Targeting 8-10 deals, approximately 30m invested


per year in:

Asset-backed investments
Development capital
Venture investments

MBOs
Acquisitions / Buy & Build
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Investment Profile Asset Backed

Up to 12m invested in businesses underpinned


by freehold assets

Sectors: Education, Hotels, Care Homes,


Pubs, Gyms, Renewable Energy, Cinemas,
Wedding Venues, etc

Team up with experienced operators with a


50/50 equity split

Provide entire funding through a mix of debt


and equity

Target c.15% - 20% IRR on total funding


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Investment Profile Development Capital

Typically invest 2-5m into profitable UK


companies

All sectors considered (as long as VCT


qualifying)

Clear expansion need for fundraising working


capital, capex, new market launch, sales and
marketing acceleration, etc

Mix of senior loan and equity

Growth trajectory in expanding market

Targeting 3-5x cash multiple / 30% IRR on equity


investment
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Investment Profile Venture Investments

Invest 500k-5m in high growth, early stage


companies

Focus on companies at or close to profitability,


typically generating 1m turnover from multiple
customers

Preference for sectors where we have


experience, e.g. med-tech, B2B software

Typically straight equity

Targeting 5-10x cash multiple


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VCT portfolio by sector

4%
Leisure (asset-backed) 11% 21%
Renewable Energy
Healthcare
Technology 23%

Education 21%

Other
20%

30% Asset-backed
Development
Capital
58%
Venture
13% Investments
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Sector Focus: Education

Focus on independent schools (asset-backed) and


training services (development capital)

Current investment of 27m in two schools

Previous experience in childrens nurseries

Looking to increase portfolio weighting

Dolphin Day
Nurseries
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Sector Focus: Renewable Energy

Community scale renewable energy schemes of up to 10MW


across all the Albion funds
Hydro-electricity: 7 schemes in Snowdonia and North
& Central Scotland
Solar: 1,500 domestic rooftops in
Cambridgeshire and Berkshire
Wind: 8 wind turbines in South Wales,
Devon and Scotland
Biogas: 1 waste food biogas plant in Perth,
Scotland
Landfill Gas 2 landfill gas projects

Albion Community Power is looking to invest in more


renewables projects, including acquiring operational schemes.
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Sector Focus: Healthcare

Invest across deal spectrum: asset-backed,


development capital and venture

Focus on following areas:


o Care Homes
o Pharma Development and Services
o Diagnostics and Imaging
o Healthcare IT

120m invested to date across 36 companies


19 exited
17 in portfolio
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Sector Focus: Technology

Venture and development capital deals

Full spectrum of technology in the portfolio, from


software and payments through to consumer
internet and deep tech

Looking for
o capital efficient business models
o annuity or transactional revenues
o 30%+ annualised revenue growth

Targeting B2B software, cybersecurity and hi tech


manufacturing

Currently have 54m invested in 22 companies


(excl. Healthcare tech)