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RBP Workshop  26 th May 2004

Bill Corry Impax Asset Management Ltd. RBP Workshop  26 th May 2004. What is venture capital?. Equity providers focus on different stages of finance. What else do they often provide other than finance? access to management and a network of industry contacts commercial industry experience

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RBP Workshop  26 th May 2004

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  1. Bill Corry Impax Asset Management Ltd RBP Workshop  26th May 2004

  2. What is venture capital? Equity providers focus on different stages of finance What else do they often provide other than finance? • access to management and a network of industry contacts • commercial industry experience • access to co-investors and follow-on financing rounds

  3. The Recycling Fund • £5.5m “pilot equity fund” • SME’s – focus start-up & early stage • Equity investments • Strong, commercial deals • A beacon for the recycling industry

  4. Our criteria • Geography: UK • Materials: Paper, glass, wood, plastics, aggregates, compost • Activity: Sorting, processing, reprocessing, product manufacture • Portfolio: 10-15 investments • Terms: Commercial • Investment size: 1m to 0.5m euro • Co-investment: Prefer to lead & introduce partner VCs/Angels • Instruments: Equity • Exit route: Flexible: trade sale, MBO, IPO • Exit timescale: 5 years (average)

  5. Process Submission of business plan Initial meeting at Impax Initial due diligence Site visit and additional meetings Submission to Investors’ Committee Final due diligence Documentation Disbursement Target 3-6 months

  6. Contact details Bill Corry Investment Manager, Impax Asset Management Ltd email: b.corry@impax.co.uk Telephone: 020 7434 1122 Websites: www.recyclingfund.com & www.impax.co.uk

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