Wealth Club – progress so far
Access to capital is crucial for high growth companies to reach their potential. Since 2016, Wealth Club members have invested £63.5 million equity into 39 EIS qualifying companies, helping these commercially compelling businesses to scale. The current (unrealised) valuation of the Wealth Club portfolio is encouraging at £73.2 million, we hope providing our investors over time with attractive returns.
Interestingly, growth companies with strong management teams have been able to access capital from private equity investors regardless of the recent turbulent market conditions. Indeed, Wealth Club members have invested £16.7 million into single companies since the first lockdown.
Top performing sector this year
Given the pressure on health systems worldwide – ever-rising costs, ageing populations, lifestyle diseases, not to mention the threat from epidemics as seen with the recent spread of coronavirus – healthcare providers are having to turn to new technologies to deliver cost-effective and efficient future healthcare services. Not surprisingly therefore, tech companies providing services to the healthcare sector performed well and commanded strong valuations.
Our latest deal, Bond Digital Health
Backed by Wealth Club members, Welsh medtech firm Bond Digital Health has received a further £1.2 million in equity funding to further develop its technology which is to be used in Covid-19 testing.
Bond’s connectivity and data platform, Transform®, is designed to collect, store and analyse data from lateral flow diagnostic tests – the type of rapid tests that are being widely used in the Covid-19 outbreak. A version of Transform® is currently in-market, digitising and powering a Canadian Covid-19 rapid antigen test, allowing users to analyse large volumes of data easily and compliantly. Bond also has several contracts relating to environmental and animal health testing, as well as other infectious diseases. Bond’s customers include multi-national lateral flow companies as well as US and UK government agencies and the NHS.
In this latest round £1 million was raised from private investors through Wealth Club and £200,000 from the Development Bank of Wales. Earlier this year, Bond received £400,000 through Wealth Club and was awarded more than £200,000 in government grants to help develop its technology.
Wealth Club founder and CEO Alex Davies commented: “Bond is a great example of a young and dynamic company that’s using technology to solve a real problem. The fact this technology is being applied to a rapid Covid-19 test demonstrates the potentially huge impact of what it’s aiming to achieve. The crisis has really propelled some businesses forward, particularly in sectors such as healthcare and technology, and it’s no surprise that these sorts of companies have been snapped up by investors. The Bond deal has been hugely popular with our clients. The initial offer was oversubscribed by 400%, with the second larger offer – available only to existing investors and those who missed out – filling up in less than a week.”
Contact details
If you are an angel looking for quality deal flow, or a director of a high potential company looking for capital, please get in touch with the deal team at Wealth Club:
