Prospedia Capital’s formative year following its mid-summer launch is already creating a fast-growing financial ecosystem for startups, angel investors, fund managers and industry experts.
“Following thorough due diligence our first cohort of clients will transition onto our Envestry investment platform in the new year,” says company founder Robert Palmer. “The launch of our Investment Readiness Programme and Envestry investment platform follows years of deep research and detailed discussions with stakeholders from academia, industry bodies, financial organisations and government agencies, all heavily involved in the automotive technology sector.”
“The immediate signing of clients was amid a pandemic that will live long in our collective psyche, and our reach has proven to be truly global with one in six candidates applying from overseas. We encourage them to set up a UK company to take full advantage of a nation at the cutting edge of autonomous, connected, electrified and shared mobility services (ACES) and technology.”
A longstanding angel investor and strategic advisor to many startups, Prospedia’s founder says the nation can be grateful for the UK’s automotive engineers and their extraordinary support this year for the NHS. “It shows the value of collaboration in the automotive sector, long-established between academia, industry and government under the guidance of the Automotive Council. Prospedia aims to extend this spirit of teamwork to the investment community to support early-stage technology companies.”
While the coronavirus rampaged through our communities, Prospedia Capital and Beauhurst studied the investment flowing over the past decade into early and growth-stage companies. Their report published on 1 September said that startups developing future mobility and transport solutions needed £1-2 billion of private sector investment at seed and venture stage to accelerate innovation in this crucial sector of the economy.
“This private equity investment is needed to ensure the sector achieves its full potential,” said Henry Whorwood head of research and consultancy at Beauhurst. “If this can be achieved, the benefits for the economy and society will be huge.”
The report also commended the UK Business Angels Association (UKBAA) for its efforts to strengthen the angel ecosystem as being a vital part of a strategy for economic recovery.
“The UKBAA recognises that a strengthened angel and early-stage investment ecosystem is a vital part of the strategy for economic recovery,” said Jenny Tooth chief executive UKBAA. “We know that so many small businesses are bringing innovative solutions to impact on our environmental and societal challenges and many more companies have seen the opportunity to innovate and disrupt the market, taking advantage of core technological developments at this time.”
Other contributors sharing their insights in the report included David Greenwood Professor of Advanced Propulsion Systems, WMG, at the University of Warwick; Simon Edmonds deputy executive chair & chief business officer at Innovate UK; Neville Jackson chair of the Royal Academy of Engineering ‘Increasing R&D Investment’ project; and Daniel Ruiz chief executive officer of Zenzic.
Understanding the need to plug this £1-2 billion funding gap was the inspiration for Prospedia Capital, who’s short video Christmas card is a midwinter thank you to all its stakeholders. It is narrated by the company’s counsellor and executive coach Charlotte Hirst and digitally produced by Matthew Kaltenborn, Prospedia’s talented photographer and filmmaker.
“I’m also indebted to my business partner, our chief investment officer Sean Butcher, and senior associates Alex Tylee, Andrew Everett, and Steve Sapsford for their creativity, support, and encouragement,” says Palmer. “Likewise, for the unstinting support of our crucial professional partners who also help to make our mission possible.”
“They comprise the incredible talent at research company Beauhurst; and the UK’s most successful fundraising company Envestors, creators of the FCA-regulated and award-winning Envestry private investor network.”
“Equally supportive is the professional services business MPA Group, specialist slide presentation designers Presented, website and IT service provider Internet Assist, patent attorneys Reddie & Grose, neuroscientist and behavioural specialists TTI Success Insights as well as the advanced communication and public speaking trainer Jose Ucar and algorithm genius Guy Ainsley.”
Prospedia Capital looks forward to working with all its clients and stakeholders in the new year and offers its seasonal greetings hoping everyone can take some time with their families this problematic and most unusual holiday season.