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Barr Ellison Solicitors – commercial property
21 December, 2021 - 23:12 By Tony Quested

Martlet marches into golden Science & Technology investment era

Martlet Capital in Cambridge has won fresh investment to sustain its impressive scale-up in Europe’s DeepTech and Life Science segments.

A recent restructuring put Martlet on a more potent footing with its patient capital model – and that has captured the imagination of respected backers.

The latest boost comes from EMV Capital – the corporate finance and venture capital division of NetScientific plc, the international life sciences and sustainability technology investment and commercialisation group.

It has just syndicated approximately £0.74 million of its investment into Martlet Capital, first announced mid-September, to its investor network and invested a further £0.73m into Martlet which will be syndicated to the investor network shortly.

As a result of this investment the total syndicated amount is £1.47m under carried interest arrangements while the group’s direct holding on completion will have decreased from £1m to £0.25m. 

This brings the total direct and syndicated investment in Martlet Capital to a total of £1.72m. This represents 11.2 per cent of the Martlet Capital issued share capital and £0.52m of convertible loan notes.

Since the September 2021 investment co-led by the group, Martlet Capital has completed an agreement with Marshall Group for the transfer of 50+ technology assets.

It has also continued to support Marshall Group’s existing portfolio of early stage, Cambridge based, deep tech companies through additional follow-on investments. These include:-

  • (AI driven expert network connections platform): £200,000 in September 2021 as part of an £8.5m round
  • Spotta (smart insect and pest detection and monitoring systems): £128,000 in October 2021 as part of a round of over £2.2m
  • Dogtooth Technologies (intelligent fruit picking robots): £125k in December 2021 as part of a £7m round.

Paul Bailey, managing director of Martlet Capital, said: “Martlet is delighted to have the continued support of NetScientific with the completion of their second investment closing endorsing our position as a leading seed stage tech investor. 

“The European technology sector is booming and, as reported recently, Britain is leading the way in tech investment with Cambridge the unicorn capital of Europe. 

“Early stage investment levels are now on a par with the US for the first time and with the transatlantic links that NetScientific can offer Martlet’s portfolio companies we are in a great position to nurture founders, invest at seed stage, provide scale-up capital and talent management expertise to these amazing technology companies.”

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