John Warner Director Why are we here this morning? Accountability to South Yorkshire Building relationships Looking to the future Dialogue and questions.

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Presentation transcript:

John Warner Director

Why are we here this morning? Accountability to South Yorkshire Building relationships Looking to the future Dialogue and questions

Tony Goulbourn Chief Executive

Our mission & vision To establish a commercial and sustainable fund for South Yorkshire

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 

Key Messages £40 million invested in 281 businesses Success of ‘Money with Management’ model mentors placed Created or safeguarded 6,662 jobs Private sector leverage equivalent to £4 for every £1 invested

Key Messages £290m in value added sales Pilot Seedcorn Fund – fully committed Improved performance of SBF Upturn in equity deals Achieved Customer First Standard

Investment Forecast

OutputTotal Projected Outputs Target December 07 Achieved to December 07 Performance % New jobs created 2,6181,6671,62297% Jobs safeguarded 5,1274,6825,040108% Value Sales ( £ m) % New business starts % Businesses advised %

Universal Components UK Ltd

SEAMS Ltd

Zenjin

The way forward Raise Successor Fund for the Region to run The need for an Interim Fund to ensure continuity of investment The creation of a regional holding company

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

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

New Website

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No ). 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 ) and Finance South Yorkshire Ltd (Tel ) 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.