John Warner Director
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Transcript of John Warner Director
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John WarnerDirector
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Why are we here this morning?
• Accountability to South Yorkshire
• Building relationships
• Looking to the future
• Dialogue and questions
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Tony GoulbournChief Executive
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Our mission & vision
To establish a commercial and sustainable fund for South Yorkshire
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Where are we?
•Business Model Proven
•We will fully invest the Fund by end of 2008
•Achieve target financial returns
•Exceed most of the economic outputs set
•Be on track to achieve a legacy of circa £20m
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Key Messages
• £40 million invested in 281 businesses
• Success of ‘Money with Management’ model - 334 mentors placed
• Created or safeguarded 6,662 jobs
• Private sector leverage equivalent to £4 for every £1 invested
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Key Messages
• £290m in value added sales
• Pilot Seedcorn Fund – fully committed
• Improved performance of SBF
• Upturn in equity deals
• Achieved Customer First Standard
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Investment Forecast
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Output Total Projected Outputs
Target December 07
Achieved to December 07
Performance %
New jobs created
2,618 1,667 1,622 97%
Jobs safeguarded
5,127 4,682 5,040 108%
Value Sales (£m)
420 206 291 141%
New business
starts
50 50 50 100%
Businesses advised
3000 2680 2653 99%
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Universal Components UK Ltd
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SEAMS Ltd
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Zenjin
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The way forward
• Raise Successor Fund for the Region to run 2009 - 2013
• The need for an Interim Fund to ensure continuity of investment
• The creation of a regional holding company
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The interim to the end of year (2008)
• Availability of Funds to invest - tight
• The need to work with investors and the market to manage this period of the Fund
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Successor Fund• Much larger Fund for the Region
• Vision to have permanent commercial fund by 2013
• Focus on HIGHER RISK but maintain commercial discipline
• Continue successful use of mentors
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New Website
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01709 386 377South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises
three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM
Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services
Authority. These include the pilot Seedcorn Fund, Mentorbank and access to the Yorkshire Association of Business Angels.
www.syif.com