TLDR:
- NetScientific PLC takes over Martlet Capital’s £23.3 million investment portfolio
- EMV Capital acquires Martlet’s operational venture capital business
NetScientific PLC, an AIM-listed venture capital and corporate finance firm, has made strategic moves with Martlet Capital. These moves include appointing its subsidiary, EMV Capital, as the investment manager of Martlet’s £23.3 million investment portfolio. EMV has also acquired Martlet’s operational venture capital business, positioning itself for increased influence in the Cambridge tech cluster. The finalization of these deals comes after EMV identified an opportunity to potentially accelerate returns for Martlet’s shareholders from its investments in the deep tech and life sciences sectors. NetScientific and EMV have been invested in Martlet since its early funding rounds in 2021 and hold a combined direct stake of 1.38% with additional advisory rights.
Under the investment management agreement, EMV will earn management fees and carried interest on the portfolio’s growth. The operational aspects of Martlet’s business, now under Martlet Capital Management within the NetScientific group, include all ongoing operations and staff. EMV Capital is also introducing two new investment funds, Martlet Capital Fund II and Martlet Growth Fund, to explore emerging follow-on investment opportunities. This strategic expansion significantly boosts NetScientific’s funds under management. The acquisition of Martlet’s operational business includes an initial cash consideration of £2.00, plus deferred cash payments linked to future earnings. This marks an important milestone for the NetScientific group, aligning with its objectives to become a leading deep tech and life sciences venture capital investor in the UK and Europe.
