It has now been three weeks since we transitioned to remote working. By moving quickly, we protected the health of our team and the wider network we would normally come into contact with, as well as maintained business continuity.
Expertise to support our management teams
Our well-resourced and highly experienced team manages in excess of £400m of assets. We have taken swift action on both a co-ordinated and case-by-case basis to support our management teams, helping them to review their businesses thoroughly, understand how to access Government support and draw on the expertise of our investment and portfolio professionals. Of course, this is a very challenging environment to operate in; our portfolio is adapting quickly but we feel it is well-positioned overall to get through this crisis. We have backed talented and tenacious entrepreneurs who are rising to the challenge; and it’s advantageous to all concerned that our portfolio is largely ungeared because we provide full funding solutions in our deals.
Considerable liquidity to deploy
Having just completed a fundraising for the Mobeus-managed VCTs and with 40% of our institutional fund to deploy, we have high levels of liquidity across the business; nearly £200m in cash.
This allows us to support our existing business partners across our portfolios should they need it but, more importantly, means we have considerable fire power for new investment – to facilitate growth of those companies that see opportunities in the current environment and to fund acquisitions by our portfolio.
The new normal
For the time being, Mobeus operates out of 36 home offices across the UK but we remain strongly focused on, and well-positioned to support, high potential UK SMEs.
We have been pleased and impressed by the resourceful and creative ways our entire network has found to use technology and keep communicating. We hope you and your families are in good health.