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clarendon-fm.co.uk

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Investments

50

Portfolio Exits

2

Funds

5

About Clarendon Fund Managers

Clarendon Fund Managers Limited is venture capital fund manager based in Belfast, which is authorised and regulated by the Financial Services Authority. Clarendon has £13.5 million of funds under management, with an investment focus on innovative SMEs based in Northern Ireland.It is the appointed Fund Manager for the Viridian Growth Fund LP, which was established in August 2001, and it also manages the Nitech Growth Fund LP, which was established in February 2003.Clarendon have invested £11.5 million in 25 companies from the two Funds under management across a wide range of sectors including ICT (CRM, ERP, Data Quality), medical devices, biotechnology, communications, food industry, waste management, renewable energy and computer gaming.

Clarendon Fund Managers Headquarter Location

12 Cromac Place 11-13 Gloucester Street

Belfast, Northern Ireland, BT7 2JB,

United Kingdom

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Pharmaceutical companies working across drug discovery, drug development and drug manufacturing.

Latest Clarendon Fund Managers News

Call for external investors to shift focus to Northern Ireland

Sep 3, 2021

Call for external investors to shift focus to Northern Ireland Domestic investor Co-Fund NI wants others to join it in backing early stage companies in the province Pictured in Titanic Quarter in Belfast are Brian Cummings, investment director at Clarendon Fund Managers, which manages CoFund NI, and Alan Foreman, CEO of portfolio company B-Secur. Sign up to FREE email alerts from BusinessLive - Northern Ireland - news from and about businesses in Northern IrelandInvalid EmailSomething went wrong, please try again later. Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribingWe have more newsletters Show me See our privacy notice Northern Ireland plays home to a host of highly investible companies which international investors are missing out on. That’s the message from the managers of Co-Fund NI which wants to encourage more external investors to take a closer look at the early-stage businesses emerging from the province so they can co-invest. “Demand for funding is high and the quality of the companies we are seeing coming through is increasing every year,” he said. “It’s clear from some of the Series A funding rounds raised by Northern Ireland companies in our last financial year that a number of equity investors are starting to take notice of the potential in the region. “But I would encourage others who aren’t already doing so to take a look at what’s emerging in Northern Ireland as we’d like to invest alongside more external investors.” Clarendon said that in the 12 months to March 31, 2021, despite the impact of the pandemic, Co-Fund NI invested £7.5m in Northern Ireland businesses, alongside £13.2m of private investment in 37 funding rounds, bringing the total it has invested to over £31m resulting in overall investment of £174m when private match investment and leveraged funds are included. In the same 12-month period, its portfolio companies raised £56m of investment, with 15 companies raising Series A funding rounds averaging £2.9m – almost double the average value of Series A rounds raised the year before. These included Cumulus Neuroscience raising £6m from DDF and Life Arc Science Fund, Neurovalens raising £5.2m from IQ Capital and Wharton and Cirdan Imaging raising £3.6m from existing shareholders and the Future Fund. Innovative heart rate software company B-Secur has raised almost £8m in the first of half of the year, including $6m from a US-based fund. “Co-Fund NI first invested in B-Secur in early 2020 at an uncertain time for our business in the early days of Covid-19 and have followed on with significant investment twice as the business moved back to growth,” Alan Foreman, CEO at B-Secur, said. “I was thrilled that B-Secur was able to find a Northern Ireland investor that understands our deep tech proposition and the immense global opportunity we have, while supporting our growth ambitions locally. “Co-Fund NI’s support since early 2020 provided a key endorsement as we sought investment from the US, a key strategic market for the company.” Follow BusinessLive

Clarendon Fund Managers Investments

50 Investments

Clarendon Fund Managers has made 50 investments. Their latest investment was in Datactics as part of their Unattributed VC - V on May 5, 2021.

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Clarendon Fund Managers Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/5/2021

Unattributed VC - V

Datactics

$2.4M

No

Kernel Capital, and Par Equity

5

9/15/2020

Series B - II

B-Secur

$1.86M

Yes

Accelerated Digital Ventures, and Kernel Capital

3

7/20/2020

Series A - III

Neurovalens

$5.83M

Yes

ACF Investors, IQ Capital, Techstart Ventures, The Future Fund, and Wharton Asset Management

11

7/13/2020

Seed VC - III

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$99M

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10

6/2/2020

Seed VC

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$99M

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10

Date

5/5/2021

9/15/2020

7/20/2020

7/13/2020

6/2/2020

Round

Unattributed VC - V

Series B - II

Series A - III

Seed VC - III

Seed VC

Company

Datactics

B-Secur

Neurovalens

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Amount

$2.4M

$1.86M

$5.83M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Kernel Capital, and Par Equity

Accelerated Digital Ventures, and Kernel Capital

ACF Investors, IQ Capital, Techstart Ventures, The Future Fund, and Wharton Asset Management

Sources

5

3

11

10

10

Clarendon Fund Managers Portfolio Exits

2 Portfolio Exits

Clarendon Fund Managers has 2 portfolio exits. Their latest portfolio exit was Heartsine on September 14, 2015.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/14/2015

Acquired

Physio-Control

1

00/00/0000

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10

Date

9/14/2015

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

Physio-Control

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Sources

1

10

Clarendon Fund Managers Fund History

5 Fund Histories

Clarendon Fund Managers has 5 funds, including Co-Fund NI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2012

Co-Fund NI

Co-Investment Fund

$25.29M

1

12/31/2008

Nitech Growth Fund II

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$99M

10

12/31/2003

Nitech Growth Fund

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$99M

10

12/31/2001

Viridian Growth Fund

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$99M

10

Co-Fund II

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$99M

10

Closing Date

12/31/2012

12/31/2008

12/31/2003

12/31/2001

Fund

Co-Fund NI

Nitech Growth Fund II

Nitech Growth Fund

Viridian Growth Fund

Co-Fund II

Fund Type

Co-Investment Fund

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Status

Amount

$25.29M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Clarendon Fund Managers Team

1 Team Member

Clarendon Fund Managers has 1 team member, including current Chief Executive Officer, Paul Leonard.

Name

Work History

Title

Status

Paul Leonard

Chief Executive Officer

Current

Name

Paul Leonard

Work History

Title

Chief Executive Officer

Status

Current

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