UK launches £500m venture capital fund to attract institutional money

first_imgCatherine Lewis La Torre, CEO of the bank’s investment arm, British Business Investments, said the organisation’s earlier venture capital project – the UK Innovation Investment Fund – had backed a number of funds that had already invested in “a large number of outstanding UK businesses”.“The £500m made available today under our new Managed Funds programme will build on this experience by attracting more institutional capital to the venture and growth asset class,” she added. “Through this Managed Funds programme, prospective investors will be able to access high quality venture and growth capital funds that will be investing in the success stories of tomorrow.”In November last year Chancellor Philip Hammond, head of the UK’s Treasury department, announced plans to “unlock over £20bn” for “scale-up businesses”.As part of this move, the Treasury said the Pensions Regulator would “clarify guidance on investments with long-term investment horizons”.“With over £2trn in UK pension funds, small changes in investment have the potential to transform the supply of capital to innovative firms,” the chancellor’s report said.However, JP Morgan Asset Management’s Sorca Kelly-Scholte previously warned that the mature nature of UK defined benefit funds – which still account for the majority of the country’s pension assets – meant that illiquid asset classes such as venture capital were not always suitable.“Funds are maturing and they often think that private equity is not the right risk or liquidity profile for them,” Kelly-Scholte told IPE in November. “They don’t want to get into illiquid assets if they are going for buyout.”Last month, the European Commission and the European Investment Fund launched a similar venture capital programme, VentureEU, with initial capital of €410m. The Commission said it expected to unlock €6.5bn of new investment in start-up and high-growth companies across Europe. The UK government has launched a £500m (€567.3m) venture capital programme as part of its stated aim of encouraging more pension funds to invest in small domestic companies.The Managed Funds programme, launched by the government-funded British Business Bank, aims to increase long-term allocations through investing in “large scale” funds of funds.In a statement, the bank said its project would “boost the amount of patient capital available to the UK’s high-growth businesses”. The programme aimed to generate a “commercial rate of return” from a diversified portfolio.Managers interested in running money through the programme have been invited to pitch to the British Business Bank.last_img read more

TESCO GRANTED PLANNING PERMISSION FOR LETTERKENNY PETROL STATION

first_imgSupermarket giant Tesco has officially been granted planning permission for their new petrol station at their Letterkenny store.It follows an ongoing battle with local business owners who are objecting to the plans.The ongoing planning battle goes back as far as 2003 when Tesco was refused permission for the site at Port Road. Local business owners Eddie Tobin of Tobin’s Service Station and Paul Sweeney of Sweeney’s Spar at Ballyraine both objected to the plans.The businessmen say they are objecting to the plans because of traffic congestion while Mr Sweeney claims the granting of permission could lead him to lay staff off.However planning has been granted with 20 different conditions.It is expected that both business owners will take their case to An Bord Pleanala.  TESCO GRANTED PLANNING PERMISSION FOR LETTERKENNY PETROL STATION was last modified: June 5th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:objectionsplanning permissiontescolast_img read more

Jon Gruden is drooling over this wide receiver at the combine

first_imgINDIANAPOLIS — Jon Gruden saw a picture of D.K. Metcalf without a shirt on and wanted to hit the gym himself.Metcalf is chiseled beyond belief, reportedly recorded this week with a 1.6 body fat percentage while weighing 228 pounds. He’s gone viral on social media because of a shirtless gym picture, and Gruden said Metcalf is the biggest wide receiver he’s ever seen. He tied Arizona State’s N’Keal Harry with the most bench press reps (27) among wide receivers on Friday, and only two others …last_img

Trade mission to India points to investment opportunities in South Africa

first_imgBilateral trade between South Africa and India has the potential to treble over the next five years with huge opportunities opening up for the business sectors.The recent visit by a high-level South African business delegation to India has helped to strengthen economic relations between the two countries and exposed companies to the opportunities for trade and investment in South Africa.The delegation was led by Dr Essop Pahad, Minister in the Office of the President and jointly organised by the International Marketing Council of South Africa (IMC) and the Department of Trade and Industry (dti).Mr. Iqbal Sharma, the Deputy Director General of Trade and Industry says the mission was a “significant success” as it brought together representatives from South African business with their counterparts in India. “We struck up relationships that will in the coming months lead to solid partnerships resulting in new investments in South Africa,” he says.The South African delegation participated in two IMC/dti investment conferences in Mumbai and New Delhi. These were well attended by over 200 Indian representatives. The visit also generated strong media interest including participation of Dr Pahad in two Knowledge Forums with senior Indian officials, organised by the Times Group of India.Mr. Sharma says it is clear there is strong interest in investment in the South Africa pharmaceutical industry while the hospitality sector is also poised for significant expansion as the number of Indian visitors to South Africa continues to grow.Among the other sectors that had representatives on the mission are business process outsourcing, information technology and the automotive industry. These are also areas targeted for special attention by the government’s Accelerated and Shared Growth Initiative (ASGISA).For South African companies there are massive opportunities in infrastructure development to support the rapidly expanding Indian economy. South Africa expertise in deep mining operations and the power sector are also in strong demand in India.Ms Yvonne Johnston, the CEO of the IMC says the mission was organised to tap into the growing interest in relations between South Africa and India. In the last three months there have been a number of ministerial delegations from India participating in local trade shows as well as the meeting of the IBSA alliance between South Africa, India and Brazil.“Clearly the interest is there and the governments have put in place the required structures. It is now up to the business communities in South Africa and India to seize the opportunities and form partnerships that will benefit both our societies.“Current bilateral trade is in the order of R15 billion a year – but it has been growing by 30% per annum in recent years. At this rate it is not impossible to reach the R50 billion mark by 2012,” she says.“The mission was a great success following in the footsteps of our previous missions to Europe, the USA and the Middle East. We have helped to forge strong ties with the Indian business community and demonstrated to them that South Africa is Alive with Possibility,” says Ms Johnston. ENDSIssued by: Meropa CommunicationsOn behalf of the Department of Trade and Industry and the International Marketing Council of South AfricaEnquiriesFor more information about the mission, or to schedule interviews, please contact:Claire Taylor: Meropa CommunicationsTelephone: 011 772 1000, Email: [email protected]last_img read more

USGBC and Home Depot Launch Green Products Site

first_imgThe U.S. Green Building Council and Home Depot have collaborated on a microsite on the retailer’s website that allows homeowners and homebuilders to search the store’s database for green products, many of which can contribute points or help meet prerequisites for LEED for Homes projects.The microsite lists more than 2,500 products sold at Home Depot that qualify as green and can be used to bring a project closer to LEED for Homes certification, according to a recent USGBC press release.Citing a McGraw-Hill Construction study that indicates the market share of green homes in residential construction is growing, USGBC and Home Depot point out that, beyond marketing their brands and services, the new website reinforces the idea that green building — or at least many of the products that go into it — is accessible to most consumers.A handy toolIf the website is promoted vigorously enough, it likely will increase awareness of LEED for Homes, although it’s not clear it will lead to more program certifications, Nadav Malin, president of BuildingGreen, told GBA. Malin added that USGBC and Home Depot apparently have focused extensively on training store employees to offer proper guidance on green products in the retailer’s inventory.He did point out, however, that the website — which includes a tool designed to allow users to search for products in more than 20 categories, and includes a LEED point rating for most of those products — doesn’t indicate which LEED for Homes scoring criteria the points apply to.“Without that piece of information,” he noted, “this whole presentation is much less useful than in might otherwise be. Someone could conceivably buy a product based on this label assuming that it will help them earn a certain point, only to find out that it has the label because of a different point entirely.”We’ve asked for clarification on this issue and will update this post as soon as we get a response.last_img read more

The 5 Best Nerd Movies Ever

first_imgAmerican SplendorIf Matthew Broderick’s nerd helped avert World War III in WarGames, then twenty years later, following the PC revolution, the Internet revolution, and the bursting of the Internet stock bubble, American Splendor offered a smaller, more cynical view of the nerd. The film’s depiction of the slovenly, obsessive, radically under-employed Harvey Pekar delivered a vision of the nerd as common man. Only, in this case, one bursting with talent and, if he must admit it, reasonably happy with his meager lot in life. Hoarder Harvey decides to document his life in comic form and it becomes wildly popular — primarily due to its unflinching honesty. The film also offers a brief but inspired depiction of comic artist and uber-nerd, Robert Crumb.  A Comprehensive Guide to a Content Audit Tags:#film#geek The Dos and Don’ts of Brand Awareness Videos X-MenX-Men may be the prototypical Hollywood vision of the nerd. Nerds are, well, born that way. They are endowed with amazing abilities, which makes them stand out from everyone else. X-Men also has, surprisingly, one of the best Nazi prison camp scenes of any film from any genre. Only, it’s not about Nazis or the past, but the future — and who will control it.This being a Hollywood blockbuster, all those born with the special “X gene” are, not surprisingly, equally pretty and badass.   brian s hall Related Posts WarGamesPhone Phreaking in 1983, the fallacy of the Cold War, computer hacking, computer gaming — probably no mainstream Hollywood film has ever been as audacious as WarGames in its depiction of the power of the nerd. All Matthew Broderick’s character wants to do is hack phone systems and play the latest and greatest computer games. Instead, he nearly starts World War III.  Guide to Performing Bulk Email Verification Facebook is Becoming Less Personal and More Pro… Lead image taken from the trailer of Revenge of the Nerds These remain the post-glory days of the nerd. From Larry Ellison, island-owning-cutthroat-businessman-billionaire, to Mark Zuckerberg, billionaire-coder-CEO-visionary, the once-lowly nerd — with Silicon Valley serving as his Xanadu — is now creator of much of the world’s riches, seer of the world’s future, and the person to whom Presidents and hopefuls come for money, anointing and benificent manipulation of Big Data. It was not always thus.Even while Bill Gates was destroying the competition in his fast march to world’s richest human being, nerds in high schools around the world were still getting bullied. The rise of the web, PCs, social media and easy money — all easily leveraged by the nerd — have at last taught even the biggest, meanest, stupidest of bullies, that the nerd they pick on today may very well be the one that creates that thing that puts the bully’s future self out of work, and possibly eradicates the only industry he’s ever known.To its credit, Hollywood has long promoted the glory and power — and humanness — of the nerd, since at least the dawn of the Reagan Era. Long before nearly anyone, including nerds, actually owned a computer, Hollywood revealed a potential, brainy hero figure.True, while many movies still offer up the stereotypical nerd, slovenly, socially inept, living in mom’s basement, spending his (always his) nights staring into banks of computer monitors, and lacking even the fortitude to be the hero’s plucky sidekick, some of the best films of the past 30 years have glorified the nerd.These are the very best of the bunch.Revenge of the NerdsReleased nearly 30 years ago, Revenge of the Nerds is the standard by which all nerdy cinema will forevermore be judged against. Adams College freshman nerds Gilbert and Lewis are relentlessly taunted by the jocks of Alpha Beta fraternity. When the jocks force the nerds out of their dorm, the nerds must create their own fraternity — and teach the entire school why nerds matter. Booger and Pointdexter nearly steal the show.  Real GeniusIt was “Morning in America” and Hollywood was moving at warp speed to release pro-nerd films. One of the nerdiest ever was Real Genius, the story of a boy and another boy, and mostly only boys, except for the rare girl, who were all so super-smart that they were sent off to a sort of Cal Tech Junior High.Our anti-hero, Mitch, so smart that even his parents don’t know what to do with him, helps save the world, gets the girl and learns that the smarter you are the less you need to care about your appearance. Brain power trumps all. last_img read more

Leicester make emotional return to home Stadium, Tottenham beat Crystal Palace

first_imgLeicester City players returned to their home ‘King Power stadium’ for the first time since the unfortunate death of their owner Vichai Srivaddhanaprabha and paid an emotional tribute to the man who taught them to dream.Ahead of Vichai’s funeral in Thailand, Leicester had forged a highly-charged 1-0 win over Cardiff City away from home but on Saturday, they were held to a 0-0 draw with Burnley in the Premier League.Vichai tragically died in a helicopter crash when he was departing after Leicester’s 1-1 draw with West Ham United on October 27 and it has been an extremely difficult week for the players, the club and the supporters since then.While it was naturally a day of high emotion at the King Power Stadium, elsewhere in England’s top flight Juan Foyth scored his first-ever goal for Tottenham Hotspur in their 1-0 win over Crystal Palace. There were also big wins for struggling Cardiff City, who edged Brighton & Hove Albion 2-1 and Newcastle United were 2-1 winners over Bournemouth.Leicester supporters and squad members, including injured England defender Harry Maguire, led a march from the city centre to the stadium where hundreds of team shirts, flags and banners were laid around the pitch.Forever and always. pic.twitter.com/g4krExnbSrLeicester City (@LCFC) November 10, 2018Vichai’s son Aiyawatt and former Leicester managers Claudio Ranieri and Nigel Pearson were among the crowd, who observed a two-minute silence before kick off.Beautiful. pic.twitter.com/fNLh189yCgLeicester City (@LCFC) November 10, 2018After the match, Leicester midfielder Marc Albrighton said it had been one of the most difficult games of his career.advertisement”This week has been hard. We went to Thailand and paid our respects to Vichai and his family,” Albrighton said.”It is something we felt we wanted to do. It is a tough time for everyone but everyone has done their part. Every single person at this club has stuck together.””It’s extraordinary the way the fans have come together. Leicester fans have been brilliant for us and we need them. It’s going to be a tough road. The lads are emotionally drained.”Today was one of the hardest games I have ever played. It’s hard to focus.”Leicester manager Claude Puel was proud of his players and praised their professionalism in handling the occasion.”We were unlucky but I was proud of the players’ performance because they gave their best in this situation,” said Puel.FOYTH’S 1ST GOAL FOR SPURS, CARDIFF AND NEWCASTLE GET WINSFoyth’s goal for Spurs came a week after his nightmare debut saw him concede two penalties in the 3-2 win over Wolverhampton Wanderers.Muy feliz por la victoria y mi primer gol en premierReally happy with the victory and my first Premier League gol pic.twitter.com/BydSNIUa3oJuan Foyth (@JuanMFoyth) November 10, 2018The 20-year-old responded in the best possible way by producing a brave header to give fourth-placed Spurs, who are now level on points with Chelsea and Liverpool, their seventh successive win over Palace. Roy Hodgson’s side are experiencing their worst home start to a season for 21 years.Cardiff celebrated only their second league win of the season as Sol Bamba netted a dramatic stoppage-time winner to seal their win over 10-man Brighton.Lewis Dunk fired Brighton ahead but Callum Paterson brought the home side level before Cardiff made the most of Dale Stephens’s first-half sending off.Bamba’s goal made it an anniversary to remember for manager Neil Warnock in his 100th game in charge.”I didn’t even realise it was my 100th game until yesterday. Then, it will be about my 70th birthday (at the start of December),” Warnock said. “But I don’t feel it and I feel really proud to be manager of this group.”Newcastle recorded consecutive league wins for the first time since April as Salomon Rondon scored a brace in their win over Bournemouth to move out of the bottom three on to nine points.Jefferson Lerma netted a goal back on the stroke of half-time but Eddie Howe’s sixth-placed side failed to find an equaliser and suffered a major injury blow when Adam Smith was carried off with suspected knee ligament damage.Southampton striker Charlie Austin was left fuming with officials after they disallowed what he felt was a clear goal during the 1-1 draw with Watford which left the Saints still struggling on eight points.Referee Simon Hooper believed, incorrectly, that the ball had gone in off Saints’ Maya Yoshida, who was offside. Southampton, leading at the time through a Manolo Gabbiadini goal, were then hit by a late Jose Holebas equaliser.advertisement”It’s ridiculous, they shouldn’t be in the game. We scored a perfectly good goal (at 1-0) that was ruled out for offside,” Austin told Sky Sports. “The officials cost us two points.Huddersfield are still one from bottom in 19th place after drawing 1-1 with West Ham, whose Brazilian forward Felipe Anderson cancelled out a first-half goal from Alex Pritchard.(With Reuters inputs)last_img read more