Deeptech investor EMV Capital acquires Martlet Capital

Deeptech investment firm EMV Capital has acquired the Cambridge-based seed-stage VC Martlet Capital, excluding its investment portfolio. EMV Capital will manage, on a discretionary basis, Martlet Capital’s £23.3M portfolio of investments across 53 companies within the deep tech and life sciences sectors. In addition, it has been appointed as investment manager.

EMV Capital is considering the launch of the following two new Martlet funds – each to be managed by EMV Capital if and when launched:

• Martlet Capital Fund II: a fund to build on Martlet Capital’s existing and proven investment policy (noting it is not anticipated that Martlet Capital itself will make material new investments); and 
• Martlet Growth Fund: a fund intended to take up follow-on investment opportunities emerging from the Martlet portfolio and other investments.

In turn, Martlet’s team and portfolio gain access to EMV Capital’s active portfolio management strategy, its corporate finance team’s proven ability to develop unique investment strategies, drawing on its EIS fund and extensive network of private investors, family offices, institutions, and corporate VCs; as well as the Value Creation Services practice supporting portfolio company growth. 

EMV Capital and its parent company, NetScientific PLC, invested in the initial fundraising rounds of Martlet Capital in 2021 and the two companies have collaborated closely since then.

Dr Ilian Iliev, MD of EMV Capital, commented:  “This important fund management mandate and acquisition of the Martlet business significantly increases the fee income and critical mass of our funds practice. We also gain ‘work in progress’ for the potential launch of two further funds under the Martlet brand and a supportive Martlet investor base.”

Robert Marshall, Founder and Chairman of Martlet Capital Ltd, commented: “Since the demerger from the Marshall Group of Companies in 2021, Martlet Capital has created a credible and respected brand in both the Cambridge and UK wide national deep tech start up spaces.  As well as providing seed and seed+ capital, we offer an exceptional level of support to founders as they grow their companies, ranging from help in developing their unique and compelling business propositions to developing their all-important talent base.