Braveheart moves to split Inkopo 'to improve its focus'

BRAVEHEART, the Perth-based angel investor, has moved to reorganise and rename its Yorkshire-based subsidiary, Inkopo.

Braveheart, which manages investment in early-stage firms on behalf of wealthy investors, paid 1.31 million for Normanton-based Inkopo in June.

At the time, the Yorkshire firm had two core business streams, both based on technology investing: fund management and business consulting.

Yesterday, the two streams were separated into standalone companies: Viking Fund Managers (VFM) and Inkopo Consulting, both based near Leeds.

Last night, Braveheart chief executive Geoffrey Thomson said the separation of Inkopo should lead to two more focused businesses which have clearer routes for future development.

He said: "Inkopo Consulting has a superb offering for technology investors, and now has the potential to provide greater diversification to group revenues.

"VFM operates in an area that Braveheart is closely familiar with, and we see much potential for its development as a standalone business. Braveheart has recently made its first investment in Yorkshire, into Phase Focus Ltd, a Viking Fund portfolio company."

VFM was formed in 2002 as the result of the management buy-out of UniVentures, the technology transfer vehicle for Leeds Metropolitan University.

In 2004, VFM led a bid to the DTI for one of the eight early growth funds, named the Viking Fund, and subsequently provided management services to the fund and its not-for-profit sister company, Viking Business Angels Club Ltd.

VFM managing director Andrew Burton said: "This separation should provide clear delineation between our activities and give both current and potential investee companies a clearer view of our business."