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Downing LLP completes sale of its non-healthcare ventures investment business
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Downing LLP has completed the sale of its non-healthcare ventures investment business, enabling its industry-leading team of ventures investment specialists to focus on attractive growth prospects in the healthcare sector. Downing has also announced the appointment of Dr Nigel Pitchford, a healthcare ventures industry veteran, as a partner to head up its investment activities in this space.
Downing will now focus its EIS and VCT activities in the healthcare sector where accelerated medical advances from the COVID-19 pandemic, increasing benefits from the use of medical technology and data, and the availability of finance to fund growth offer a wide range of opportunities.
As a result of the sale, Foresight Group LLP (Foresight) is now the investment manager of the Downing Ventures EIS, Downing ONE VCT plc and Downing FOUR VCT plc (except the latter’s Healthcare share class). Downing’s non-healthcare ventures investment team has moved across to Foresight, which will help to ensure continuity for the investors in the transferring funds.
Tony McGing, CEO of Downing LLP, said: “Our industry-leading team of investment specialists is building a strong track record in the healthcare sector and this strategic move, combined with Dr Pitchford’s appointment, enables us to further enhance our offering in response to interest from investors.
“In Foresight we have selected a well-established EIS and VCT investor with a similar investment approach and the scale and expertise to provide capital and support to portfolio companies to enable them to grow successfully.”
