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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Oxford Capital launches fifth venture capital fund07/05/2008. Source: AltAssets. 
Oxford-based venture capital firm Oxford Capital has launched its fifth Oxford Gateway Enterprise Investment Scheme Fund. The firm expects that it will be open to new investors for about a year. It aims to raise between £15m and £20m for the new vehicle. Historically, Oxford Capital has raised most of its capital from high-net-worth individuals and also from a group of institutional investors. The investor base for the new fund is likely to have a similar structure.
Fund 5 is designed for investors with a minimum investment of £25,000 and up to a maximum of £2m. It has a minimum holding period of three years if full tax advantages are to be captured.
The announcement of Fund 5 means that Fund 4 is now closed to investors, but the firm still continues to invest from the £12.5m fund. Fund 4 received commitments from 140 investors.
The £11.6m Fund 3, closed in 2006, is fully invested now, with a portfolio of 18 companies.
The Oxford Gateway Fund No. 5 will continue to invest venture capital in innovative early and development stage companies across the healthcare, sustainability and communications sectors. Oxford Capital told AltAssets that it plans to invest mainly within the £750,000-to-£1.25m range per company. The new fund is expected to build a portfolio of 15 to 20 investments in total.
Oxford Capital chief executive Ted Mott said, 'We have seen a number of the major private equity houses pull out of investing in early stage and development stage companies in recent times, but we believe the sector is still ripe with opportunities for investors with the vision to back their judgement.
'The world has a voracious appetite for advances in global healthcare and information technology combined with an absolute need to deliver sustainable economic and environmental development. Scientific and technological advances are moving at a blistering pace to meet these needs and we are investing in the most exciting companies in these "super-growth" sectors with the intention of delivering serious capital growth to our investors,' he continued.
The EIS Fund structure offers substantial tax advantages, Oxford Capital said.
Portfolio companies backed by Oxford Capital include Oxitec, a company which is working to control of pest insect populations without the use of pesticides; Glide Pharma, a pharmaceutical company enabling the delivery of drugs and vaccines in solid formulations through the skin; and Inetec, a specialist in the food waste to energy market.
Oxford Capital's focus is on emerging science and technology. The firm invests across all stages of development, from start-up to IPO.
Copyright © 2008 AltAssets
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