MBM Commercial are delighted to have assisted Star Net Geomatics Ltd (“Star Net”) with its recent equity investment of £0.5 million, despite what is still a very challenging economic environment for raising investment funds. The consortium of investors from the private and public sector was made up of the Par Innovation Fund 1 LP (“Innovation Fund”) and the Scottish Enterprise - Scottish Co-Investment Fund (“SCF”).
Who are Star Net Geomatics?
Star Net was established in 2000 at the end of an unprecedented period of growth in the telecommunication industry. Star Net was conceived to capitalise on the requirement of the mobile telecommunication and broadcast sectors with high quality dimensional and digital data on their assets throughout the UK. The advantages of Star Net's approach were recognised in the UK Telecommunications market, leading to growth in the customer base. As the business became established and stronger, the scope and breadth of markets covered was expanded to provide quality design solutions, geospatial data and digital imagery to a number of other industries (e.g. Civil engineering, Oil & Gas, Power and Industrial, and many others).
More about the Innovation Fund
The Innovation Fund, Par Equity’s inaugural fund, provides development capital to high growth potential businesses which have technology at their core. Through its unique Advisory Panel model it provides intellectual as well as financial capital to allow innovative companies to exploit their potential. Par Equity’s model is to provide access to finance allied with expertise, domain knowledge and networks. This combination is a key driver of returns in the technology-oriented SME sector. Par Equity also operates the Par Syndicate, an informal investor (or ‘business angel’) network.
More about the deal
Douglas Brown, CEO and Co-Founder of Star Net, commenting on the deal, said:
“This is a significant milestone for Star Net in our quest to become a global leader in the markets we serve. We look forward to working in partnership with Par Equity and SCF to achieve that goal. Particular thanks are also due to Stuart Hendry and his team at MBM Commercial for guiding the company through the intricate issues of securing the investment from venture capitalist firms and for providing a high level of service in a prompt and cost effective manner.”
Paul Munn, partner of Par Equity, commenting on the deal, said:
“This investment is a significant milestone in Par Equity’s development. Through the Innovation Fund we target high growth potential companies with market leading products and services, addressing global markets. Leveraging Par’s in-house expertise and that of the Advisory Panel we believe we can accelerate and enhance the creation of value in these portfolio companies. Star Net is an excellent example of a company that has developed a market-leading service offering for its clients in the telecoms, oil & gas and industrial sectors. As well as offering accuracy Star Net gives clients usable access to that data while reducing their cost base. We will work with the management team to help realise the significant potential for the business as it rapidly expands its global operations.”
Also commenting on the deal Stuart Hendry, partner in MBM Commercial LLP, said:
“We are delighted to have assisted Star Net with its recent fundraising round – especially as this was the first investment by Par Innovation Fund 1 LP. This is a key milestone for the company as part of its planned strategy of growth and the investment will help it service a number of key contract wins. We look forward to working with the company going forward.”
For more details about Star Net Geomatics please visit www.starnetgeomatics.com.
For more details about Par Equity and the Par Syndicate please visit www.parequity.com.