BGF invests £2.8m in aviation specialists RVL Group

Investment supports aircraft fleet expansion and development of a new system for cleaning up oil spillsBGF today announces a £2.8m growth capital investment in RVL Group, a specialist aviation services provider that operates a fleet of 15 aircraft based at East Midlands Airport (EMA).RVL Group manages long term contracts for government and private sector clients in the survey and surveillance market, and undertakes scheduled and ad-hoc cargo work. It also provides bespoke services for defence equipment manufacturers. While most of its work is carried out in UK airspace, it has completed surveys as far afield as Greenland, Iceland, Saudi Arabia and western Africa as well as throughout Europe.

IoD calls for tax break for venture capital to drive investment to British businesses

The Director General of the Institute of Directors today called for investments in venture capital trusts to be given tax breaks to push funding towards British businesses.

In a speech to shareholders of Albion Ventures, Simon Walker urged the Government to extend to venture capital trusts the exemption from inheritance tax that investments in Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) schemes currently enjoy.

Walker argued that venture capital supported the "vibrant small-scale enterprises on which our economic future depends". He said investors were "relatively ordinary people" thinking about their future and "providing investments that also serve the community's interests".

The cost to the treasury would be "minimal," Walker suggested, and could even be positive, as money is directed away from investment designed to escape inheritance tax and towards growing businesses.

Albion Ventures announces sale of Tower Bridge Health and Fitness Club

The deal generates a total return of 2.8 times the amount invested and an IRR of 25%

Albion Ventures LLP, one of the largest independent venture capital investors in the UK, today announces the sale of Tower Bridge Health and Fitness Club to Encore Capital, delivering a total return of 2.8 times the amount invested and an IRR of 25%.

Tower Bridge Health and Fitness Club is a premium club located at the More London estate near Tower Bridge, overlooking the River Thames.  It has a 20 metre swimming pool, sauna, steam room, several studios, a beauty spa and a state-of-the-art gym.  The club has been operating successfully for nine years.

Albion first invested in Tower Bridge Health and Fitness Club in 2005 alongside London Health and Fitness to finance the build and fit-out of the facilities.  The club has been operating successfully for 9 years.

Obillex secures £3m investment

Dawn Capital leads funding round into new online business system enabling buyers and suppliers to access wholesale supply chain finance

Early payments finance technology business, Obillex, has secured £3m funding, led by Dawn Capital and supported by MMC Ventures, to underpin and accelerate Obillex's product development and roll-out in the UK.

The financial services industry is currently undergoing great disruption, and supply chain finance is no exception. The Obillex platform has been developed over the past three years in recognition of the pain points felt by businesses in the current supply chain finance transaction market. Obillex provides a new solution for organisations to rapidly settle supplier invoices, and is suitable for businesses of all sizes across both public and private sector. The patented solution, which works by linking multiple participants to supply chain finance transactions, also provides significant benefits to business stakeholders such as capital market investors and e-invoicing providers.

Datalaw boosted by backing from the North West Fund

Online legal training provider Datalaw has received financial backing as it ramps up its expansion plans.

The North West Fund for Venture Capital has invested a six-figure sum in return for a minority stake in the ambitious Liverpool-based business.

Datalaw managing director Charles Peter said the money would enable the firm to greatly increase the number of courses it offers and to fund a new technology platform.

The investment has already helped Datalaw to make key appointments in research and development, marketing and digital development to support its growth strategy.

Datalaw currently delivers more than 350 continuing professional development courses via webinars and podcasts to thousands of solicitors nationwide, covering over a dozen areas of law.

The firm is also a leading provider of mandatory courses and examinations required for solicitors to represent clients in police stations and magistrates' courts.