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Investments

11

Portfolio Exits

3

About Quester Venture Partnership

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Latest Quester Venture Partnership News

SPARK Ventures - SPARK Ventures announces sale of Nomad Payments Lt

Feb 19, 2015

SPARK Ventures announces sale of Nomad Payments Ltd. to Metavante Technologies for $58 million SPARK Ventures achieves 100% uplift on original investment 10th January 2008 – SPARK Venture Management Limited (“SPARK Ventures”), one of the UK’s leading early-stage technology venture capital investors, announced today that Quester VCT, Quester VCT 4 and Quester Venture Partnership, managed by SPARK Ventures, have sold their stake in Nomad Payments Limited, a provider of prepaid and debit card processing and licensed software, to Metavante Technologies, Inc. (NYSE: MV), a leading provider of banking and payments technology. Nomad has been acquired by Metavante for a purchase price of approximately $58 million. Funds managed by SPARK Ventures have sold their entire shareholding in Nomad, generating an uplift of 100% on the original investment. Funds managed by SPARK Ventures have been investors in Nomad since 2000, having participated in a number of funding rounds through several of its funds, Quester VCT, Quester VCT4 and Quester Venture Partnership, investing a total of £7.9 million. Co-investors Foresight Group and Meondale have also sold their stakes in the business. Nomad is an early leader and innovator in the European prepaid payments market, offering processing services for many different types of payment providers, including gift cards, money share cards - which enable parents to provide cash to children studying or traveling abroad - and general purpose prepaid cards that can be used as an alternative to a bank account. Nomad was established in 1991 as a card payments software provider, establishing its payment division on 2005. Since then, the company has built up a strong base of debit and prepaid card processing clients including Clydesdale Bank, Newcastle Building Society, IDT Financial Services, and Tuxedo Money Solutions. Licensed software clients include Bank Zachodni WBK, the fourth largest bank in Poland, ING Ukraine and Romania, BRD - Groupe Société Générale, and EFG Eurobank, which operates in Poland, Romania, Serbia and Ukraine. Andrew Carruthers, CEO of SPARK Ventures, commented:  “As a long term investor in Nomad, the Quester funds have seen the transformation of the company from a small early-stage business into a leading market participant with a strong and highly competitive market position. The acquisition by Metavante is a significant exit for the Quester funds managed by SPARK Ventures and is a strong endorsement of Nomad’s achievements to date and of its future prospects as part of a major international group.”  John Yeomans, Nomad’s president, added: “Joining an established and successful prepaid processor like Metavante will significantly enhance Nomad’s products and services, and will enable us to offer our products and services to a wider range of clients throughout the UK and Europe. We believe that the company will greatly benefit from both Metavante’s financial strength and established credibility with financial institutions, making us a more formidable competitor in our marketplace.” Frank R. Martire, Metavante president and chief executive officer, added:  “Acquiring Nomad presents Metavante’s International Group with the opportunity to establish a European center of operations, with an established client base, multi-currency capabilities, high volume processing platform, proven business model and an established European sales channel.” Nomad was advised in the transaction by Mooreland Partners. Ends For further information, please contact: SPARK Ventures Andrew Carruthers  Tel: +44 (0)20 7851 7777 Capital MS&L (for SPARK) Annabel O’Connor  Tel: +44 (0)20 7307 5339 Note to editors: About SPARK Ventures SPARK Venture Management Limited is part of the SPARK Ventures group, the leading quoted early stage venture capital company in Europe. The SPARK Ventures group manages £225 million on behalf of major institutional investors, leading UK universities, and three quoted venture capital trusts. SPARK Ventures invests in entrepreneurs to create dynamic businesses in the technology, media, telecoms and healthcare & life sciences sectors. As well as capital, it brings a wealth of experience of developing high growth companies from early stage through to IPO or trade sale, adding value to its investments through active support and strategic direction. SPARK Ventures’ focus is on building great companies from small beginnings: its experience blends ambition with the strategic, financial and commercial skills that enable it to maximise returns, both for investors and for portfolio companies. Some of the group’s previous exits have included Mergermarket, Lastminute.com, Footfall, Pricerunner, Elata, Glycart, OHM and Avidex. www.SPARKventures.com   About Nomad Nomad has a well-deserved reputation for delivering innovation in card payments to its clients. Nomad continues this trend by leading the way with a fit-for-purpose prepaid capability for issuers, which meets the requirements of international scheme open-loop prepaid cards, featuring cardholder web service capability. The service manages all of the complexities surrounding card processing on behalf of members, including card and PIN production, customer service facilities, fulfillment and transaction authorisation. Members are free to focus on their core business, confident in offering a flexible range of competitive products to their customers cost-effectively. Building on its expertise in debit card processing Nomad has extended its specialised knowledge base and has harnessed its innovative Nomad CORTEX software to deliver a service which genuinely and cost-effectively caters for prepaid cards and all of their specific complexities. For further information, please visit: www.nomadpayments.com About Metavante Metavante Technologies, Inc. (NYSE: MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network and provider of mobile financial services. Metavante is headquartered in Milwaukee. www.metavante.com   © 2015 SPARK Ventures | 

Quester Venture Partnership Investments

11 Investments

Quester Venture Partnership has made 11 investments. Their latest investment was in Oxford Immunotec as part of their Series B on August 8, 2005.

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Quester Venture Partnership Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/3/2005

Series B

Oxford Immunotec

$9.1M

No

1

1/1/2004

Unattributed VC

TeraView

$9.3M

Yes

1

10/1/2003

Series A

Oxford Immunotec

$3.25M

Yes

1

9/10/2003

Series A

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$99M

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10

4/21/2003

Unattributed VC

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$99M

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10

Date

8/3/2005

1/1/2004

10/1/2003

9/10/2003

4/21/2003

Round

Series B

Unattributed VC

Series A

Series A

Unattributed VC

Company

Oxford Immunotec

TeraView

Oxford Immunotec

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Amount

$9.1M

$9.3M

$3.25M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

1

1

10

10

Quester Venture Partnership Portfolio Exits

3 Portfolio Exits

Quester Venture Partnership has 3 portfolio exits. Their latest portfolio exit was Oxford Immunotec on November 23, 2013.

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

11/23/2013

IPO

$991

1

00/00/0000

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10

00/00/0000

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$991

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10

Date

11/23/2013

00/00/0000

00/00/0000

Exit

IPO

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Companies

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Valuation

$991

$991

Acquirer

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Sources

1

10

10

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