EMV Capital has been appointed investment manager of Martlet Capital, the 9 Hills Road-based venture capital company founded by Robert Marshall in 2011, and has acquired its operational business.
EMV Capital will manage, on a discretionary basis, Martlet Capital’s £23.3m portfolio of investments across 53 companies within the deep tech and life sciences sectors. In addition, EMV Capital has acquired the operational VC business of Martlet Capital (excluding its investment portfolio).
EMV Capital and its parent company, NetScientific PLC, invested in the initial fundraising rounds of Martlet Capital in 2021. Having collaborated closely since, EMV identified the opportunity to expand the relationship by taking on the investment management role for Martlet Capital. EMV Capital will rely on its active management strategy to maximise returns for the shareholders of Martlet Capital and further advance Martlet’s proposition.
Dr Ilian Iliev, managing director of EMV Capital, said: “This transaction represents an important milestone for EMV Capital and the NetScientific PLC group, aligned with our objectives to become a leading deep tech and life sciences venture capital investor in the UK and Europe. Robert and his team have created a respected brand within the world-class Cambridge high-tech investment cluster.
“This is a logical next step in the deepening relationship between our organisations following our initial investment in 2021.
“This important fund management mandate and acquisition of the Martlet business significantly increases the fee income and critical mass of our funds practice.
“We also gain ‘work in progress’ for the potential launch of two further funds under the Martlet brand and a supportive Martlet investor base.
“I thank Robert Marshall and the broader Martlet team for their collaborative approach in executing this carefully balanced transaction. Independently, EMV Capital has a long history in Cambridge, and I look forward to our work together to deliver returns for Martlet Capital shareholders and EMV Capital, and to further leverage and grow the Martlet brand.”
