YFM Equity partners help Fresh TL develop and establish a foothold in the growing cloud computing market.
YFM Private Equity through the NWDA's North West Interim Venture Capital Fund has helped to close the first round investment of £600,000 for the North West based business FreshTL. This round was a co-investment with Greener House Investments plc and is the first investment from the fund.
FreshTL operates in the rapidly growing "cloud computing" sector, and has created a unique new capability by combining software platforms from the global software giant IBM along with an offering from Bricsys, a Belgian software company.
This has created significant market interest from its technology partners as well as potential customers.
How we helped
The funding from YFM will assist FreshTL to move its operations to the North West Development Agency backed Daresbury Science & Innovation Campus.
The impact of this help
"We are thrilled and delighted with the closing of the first round of investment. It will allow us to develop the business and establish a foothold in the growing Cloud Computing market." John McGuire, Chief Executive of FreshTL
John McGuire, Chief Executive and Stephen Blank, Finance Director of FreshTL will be joined on the Board by Derek Lewis as Non-Executive Chairman.
Ian Waterfield, Investment Manager of YFM said, "We are delighted to be supporting John McGuire and his team at FreshTL to exploit this exciting growth sector."
For more information ...
For more information about YFM Equity Partners' services visit www.yfmep.com.