Insider Media Limited

Private equity investor Jon Moulton has bought a 58 per cent share in E-Synergy, the fund manager for the East Midlands Early Growth Fund.

Moulton has held a small shareholding in the venture capital company since its formation, and has bought the entire shareholdings of two of the original founding directors.

E-Synergy, which made its first investment in 2001, was awarded the contract to manage the £5m East Midlands Early Growth Fund by the East Midlands Development Agency (Emda).

The fund made its first investment in Critical Pharmaceuticals, a drug delivery company based at BioCity in Nottingham, in December 2006. Since then the regional team led by Nick Wright and Robert Cawdron, based in E-Synergy’s Nottingham office, has invested in 24 companies throughout the region.

Moulton said: “Having been involved with E-Synergy for a number of years I believe the company is well placed to become a key provider of investment and managerial support for early stage companies at a time when the country as a whole badly needs to encourage entrepreneurs to start new businesses and grow them into the major corporations of tomorrow.”

Rob Cawdron, of East Midlands Early Growth Fund, said: “Our work in the East Midlands has been an important part of E-Synergy’s business for several years and we have high hopes that some of the local companies in which we have invested will achieve substantial business success. To have the endorsement of a prominent venture capital and investment guru such as Jon Moulton is very encouraging and the benefits are sure to filter through to our portfolio companies in the East Midlands and further afield.”

John O’Reilly, business support director at Emda, said: “E-Synergy has been instrumental in the tremendous success of the Early Growth Fund. The fund has provided investment to numerous fast growing companies in the East Midlands and helped many other businesses to obtain the external investment they needed. Having the backing of such an experienced businessman as Jon Moulton on board will enable E-Synergy to support many more entrepreneurs over the coming years.”