MTI, the UK’s leading early-stage hi-tech venture capital investor and manager of the innovative UMIP Premier Fund (UPF), was presented with the "Equity Gap Fund of the Year" award at the annual Allstars Investors Award ceremony in London.
The UMIP Premier Fund primarily makes late-seed stage investments, planning to invest in a total of 15 - 20 companies, initially in the £250k - £750k range, with both the intention and capacity to provide follow-on investment up to £3m. Since its close in 2008 it has currently made 11 investments, mainly from spin-outs from the University of Manchester, whilst also supporting academics with its innovative Proof of Principle (PoP) program, for those at the very early stages of IP development.
Beating stiff opposition from other VC houses such as NESTA, Northstar and Oxford Capital, MTI’s Co-Managing Partner Richard Henderson commented," The UPF spearheads a new and successful model for early stage University spin out investing. MTI welcomes the recognition, and we are excited by the opportunity to roll the UPF’s successor out to a select number of other leading UK Universities, in pursuit of the creation of world class spin-outs and the generation of superior returns to investors."