Braveheart Investment reorganises Yorkshire businesses

AIM-listed investment management groupBraveheart Investment Group has reorganised its Yorkshire businesses.

In a financial update issued on Friday, the group reported that its wholly-owned subsidiary Neon Capital Partners, the manager of the Finance Yorkshire Equity Fund, had acquired the fund management business of its sister company, Viking Fund Managers and thereafter changed its name to Viking Fund Managers, with effect from April 11th.

Geoffrey Thomson, Chief Executive Officer of Braveheart, commented: "In the 12 months since the group acquired Neon, we have invested in a good team to deliver Neon's fund management operations in Yorkshire and it was a natural decision to bring together our two Yorkshire fund managers."

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Additionally, the group reported that as of April 1st, Braveheart's wholly-owned subsidiary Envestors Limited had acquired the rights to operate the Yorkshire Association of Business Angels (YABA) from Yorkshire Association of Business Angels Limited and would combine this with the YABA secretariat.

Scott Haughton, a Director of Envestors, said: "YABA has been adapting its business model to develop its longer term sustainability. Envestors is ideally placed to power the growth and sophistication of YABA with increased deal flow and syndication opportunities for its members alongside Envestors' extensive private investor network."

MF