VCT News
ProVen VCTs Invest in Breeze Tech
28 January 2008 - London - Private equity firm Beringea Ltd has announced an expansion capital deal with mobile proximity marketing specialists Breeze Tech.
Beringea, manager of ProVen VCT and ProVen Growth & Income VCT, has committed £800,000 to support the growth of the firm's sales and marketing capabilities. The deal was lead by Beringea director Karen McCormick, who also introduced Michael de Kare-Silver as chairman.
When Breeze Tech was founded in 2003 the company specialised in blue tooth technology that enabled clients to broadcast simple content, within a localised area, from their own PCs. The firm has since grown dramatically, becoming an international provider of wireless proximity marketing solutions.
Breeze Tech's marketing solutions involve placing rich digital content in high dwell areas which can be delivered directly to consumer's mobile phones. Content can range from ringtones and movie trailers to city travel guides and tutorials. Content is broadcast via Bluetooth or WiFi to all enabled phones within a specific location, and users can chose to download or opt out of receiving any further messages. The firm's client list includes Titan Outdoor, 3 Mobile, Sky and Universal.
Beringea's Karen McCormick commented "We are very excited to be working with Breeze Tech. Businesses are increasingly looking for new ways to engage consumers and the innovative technology developed by Gregor and his team, combined with their marketing expertise, puts Breeze Tech in a great position. Breeze Tech already have a strong track record in the media content and technologies sectors and we believe, great potential for further growth."
Breeze Tech founder, Gregor Isbister, commented "I am delighted with this investment. At this stage of Breeze Tech's growth and with a market with huge potential this funding will allow Breeze Tech to accelerate its development and roll out of proximity content networks. Beringea shares our vision and is unique in its ability to support our growth through its extensive knowledge and expertise in the digital media and content industries."
About Beringea Ltd
Beringea Ltd. is an international private equity and investment banking firm with offices in London, Detroit, Los Angeles and Shanghai. Beringea is the manager of funds including Proven VCT, ProVen Growth & Income VCT, and Global Rights Fund II, amongst others.
Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen VCT and ProVen Growth & Income are the highest performing VCTs of their launch years, according to www.taxefficientreview.com. In 2006 the Association of Investment Companies named ProVen Growth & Income as its highest performing VCT member.
www.beringea.com / www.provenvcts.com
Beringea Ltd is authorised and regulated by the Financial Services Authority
FSA FRN: 138888