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Envestors closes funding for Cipher Surgical

Released 07:00 21-Feb-2013

RNS Number : 3311Y
Braveheart Investment Group plc
21 February 2013

21 February 2013


Braveheart Investment Group plc

("Braveheart" or the "Group")


Envestors' Members in Monaco invest into Cipher Surgical


Braveheart Investment Group plc ('Braveheart', the 'Group' or the 'Company') (BRH), the AIM-listed investment management group, announces that Envestors Limited, its wholly owned subsidiary, has closed funding from private investors in Monaco as part of a £1.2m funding round for Cipher Surgical


Cipher Surgical presented at an event hosted by the Monaco Venture Capital Association (MVCA) at which Envestors was invited to participate.  Donald Anderson, a resident of Monaco who works with Envestors, invested into Cipher Surgical alongside other Monaco-based private investors.


The OpClear product developed by Cipher Surgical is a novel solution to one of the key challenges facing surgeons in laparoscopy (minimally invasive surgery through the abdomen) - how to maintain soil free optics throughout an operation and ensure continuous operative surgical vision.


During laparoscopy, the lens of the laparoscope acts as the surgeon's eyes. But it can become covered in fluid, blood, tissue, fat or condensation any of which will impair the surgeon's view as projected on the external screen.  To clean the lens the laparoscope needs to be removed from the patient's abdomen causing an unwelcome break in the surgeon's workflow and concentration.


The OpClear is a laparoscopic accessory comprising a single use device that fits to a laparoscope and uses fluidics in a novel way to clear the laparoscope lens. It is easy to use and has received endorsement from a number of leading laparoscopic surgeons.


Oliver Woolley, Founder Director of Envestors, said: "We have worked with Andrew Newell, CEO of Cipher Surgical, and the team for a couple of years and have watched the progress made by the company in developing this ground-breaking solution.  We are most encouraged to see that Cipher Surgical has made good progress with its CE mark application and has agreed terms with a UK distributor. The product was also very well received at Medica in November 2012 and, more recently, at Arab Health." 

Andrew Newell, CEO Cipher Surgical Limited, added: "This additional funding will enable us to obtain our CE mark and launch into the UK. The fundraising ability and responsiveness of the Envestors team has been a great help to us."



Further information:


Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive


Tel: 01738 587555


Merchant Securities Limited (Nominated Adviser and Broker to Braveheart)

Lindsay Mair

Catherine Miles

Tel: 020 7628 2200



Envestors Limited

Oliver Woolley, Managing Director


Tel: 020 7240 0202


Cipher Surgical

Andrew Newell, Managing Director


Tel: 020 7801 0087


Media enquiries:

Allerton Communications

Peter Curtain


Tel: 020 3137 2500


Notes to Editors


Braveheart Investment Group plc


Braveheart provides financing and associated advisory services for small and medium sized enterprises (SMEs) as follows: 


For the company looking to raise money, we provide:


·    Equity capital.  This form of financing is typically long term and is usually appropriate for fast growing businesses or early stage companies.  We will consider equity financings where our individual investment, or the investment we arrange, would normally be a maximum of £2m although we are happy to participate in larger financings as part of a syndicate;

·    Debt finance.  Short to medium term and for companies with cash flow to service the loan.  Our unit size for this type of finance is up £1m and we will usually provide junior debt which is unsecured but linked to an equity instrument; and

·    Corporate finance advice on all aspects of raising money, strategic development and corporate governance.


The money we invest comes from a variety of sources (see below) and is sometimes linked to particular geographical locations.


To the investor, we provide a one stop shop service to those in one of the following groups who are looking for exposure to SME investments:


·     High net worth (HNW) individuals looking to build tax efficient Enterprise Investment Scheme (EIS) and Seed EIS portfolios;

·     Family offices and private sector institutions; and

·     The Public sector.


Investors can choose between investment types ranging from self-build portfolios, to a full fund management service.




Envestors Limited


Envestors enables investors to source dynamic unquoted companies in need of growth capital.  Comprising high net worth private investors, family offices, funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).


Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraisings through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.


Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a wholly-owned subsidiary of Braveheart Investment Group plc.




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Envestors closes funding for Cipher Surgical - RNS