South: Angel funding for technology companies

Andrew and Robert Rickman, who have established a track record as ‘super angel’ investors that back high-growth, technology companies, have announced they are launching a new technology funding group.

Rockley Group is currently raising a €100 million fund that will offer investors unparalleled access to high quality investment opportunities in growing technology companies located mainly in the UK but which have a global reach.

Investment management will be carried out by the Rockley Fund Managers team, led by Dr Andrew Rickman, Founder and former chief executive officer of Bookham, world number two in optical components, and chairman of venture backed companies in the UK, US and China, and his brother Robert, a director of listed and unlisted companies worldwide, and previously a director at regulated specialist fund manager FIM Services.

The other core members of the Rockley Fund Managers team are also successful entrepreneurs and venture professionals with substantial experience as business managers, investors and fund managers across a range of technology sectors.

They include John Laurie, founder of Oxford Ventures Group, the original lead investor in Sophos, and chairman of a number of technology companies in the UK, US and China; and John Scott, who has senior fund management experience with Oxford Ventures, British Technology Group and Strategic Capital Corporation and in both CEO and CFO roles within venture backed companies.

The Rockley Fund Managers team is initially raising a €100 million fund, with a first close of €50 million planned for this summer that will be backed by institutional investors and high net worth individuals.

Known as the Rockley Follow-On Fund, it will have a remit to invest in established, high quality technology companies in the UK that are well-placed to weather the recession.

The Fund will focus on the Energy, Sustainability, ICT, New Media, Data Management and Healthcare sectors and invest around €5m to €15m per deal.

It will exclusively target companies with strong cash flow potential and business models built to deliver exceptional competitive advantage through the current global recession and beyond.

Investments will be made as development capital and through the purchase of secondary shares where existing shareholders need liquidity.

Rockley Group is also planning to raise a complementary sister fund to focus on investments in technology companies with a proven track record which are located overseas.

Dr Andrew Rickman, chairman of Rockley Fund Managers, said: “The focus of Rockley Group is on growing companies that operate in large and timely markets. We will back technology based business that represent great investment opportunities but also allow us to unlock hidden value which we can share with our investment funds and partners.

“The diverse international experience of our Rockley Fund Managers team has enabled us to develop opportunities throughout the world and our technology investment strategies provide us with extraordinary deal flow quality. Our businesses address global and expanding markets including energy extraction and efficiency, ICT, new media, data handling, human health and safety.”

Robert Rickman, Managing Partner at Rockley Fund Managers, added: “We have been delighted by the enthusiastic response from prospective investors who are attracted by Rockley Group’s ability to provide access to high quality, stable investment opportunities in the technology sector. We have chosen to focus on substantial opportunities driven by trends in the marketplace, where we and our associates have knowledge, experience and worldwide contacts. We are on track to achieve a first close of €50 million during the summer.”

The Rockley Group portfolio includes such rising stars as Shandong Micro-Sensor Photonics, China, which provides fibre optic sensor systems and services to the energy sector.

In the UK, the portfolio includes Spikes Cavell, the leading provider of data-driven spend management and sourcing solutions to the UK public sector.