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Chelverton funds specialist cycling firm VeloVixen

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Chelverton Asset Management Limited (‘Chelverton’), a specialist investor in sub-FTSE 100 quoted equities and unquoted SMEs, has raised GBP0.5 million for the on-line cycling specialist VeloVixen. 

This represents its second transaction of 2016 on behalf of the members of its Investor Club, a syndicate of high net worth private investors.
 
Oxfordshire-based Pedalling Forth Limited, T/A VeloVixen, is the leading retailer of cycle clothing and accessories geared exclusively towards the female rider.  VeloVixen was recognised as Female Specific Retailer of 2015 by Total Women’s Cycling and lists highly regarded brands such as Primal, Morvelo, Vulpine and Café du Cycliste, as well as a numerous smaller up-and-coming female-designed British brands amongst its growing range. 
 
With cycling participation rates amongst women rising rapidly, and an estimated c. GBP1.3billion spent annually on cycle accessories and apparel increasing numbers of consumers are looking for a retail proposition which engages with female riders – building a community and destination website for enthusiasts and casual riders alike.
 
Since launching its Investor Club service in 2013 Cheverton has seen a significant uplift in its unquoted investment activity within the equity gap under-served by the more established private equity community. 
 
“It’s an area of the market where investors recognise that good returns can be delivered, with business valuations at sensible levels and company growth prospects looking better than for some years”, says Bucknell.  “High net worth individuals can access these opportunities through our Investor Club, and we’re seeing strong levels of interest amongst prospective investors at this time.”
 
The Club invests only in companies with stable business models, backed by the strongest management teams, and which operate in sectors it knows and trusts.  These firms, which Chelverton believe will become more profitable and cash generative over time, will typically seek investment of between GBP500,000 and GBP3 million (and have a transaction value of GBP1 million – GBP5 million).
 
Commenting on the Club’s unique proposition, Chelverton Asset Management Managing Director and Founder, David Horner said, “We have identified many highly competitive investment opportunities in recent times, and have seen the way in which these companies have been overlooked by other private company equity providers.  At the same time, we are being approached by growing numbers of investors looking for compelling tax-efficient investments, capable of offering good, solid returns and a more bespoke approach to investing in private companies.  We have created the Club to fill this gap in the market, and to give members access to a selection of high quality opportunities in the UK SME space, which we believe in as a firm, and which we have appraised as presenting a lower risk profile to prospective investors.  The Club will allow them to create a self-selected private equity portfolio with ease.”

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