Update on Coronavirus from Mobeus
As the impact of COVID-19 continues to evolve, we have been closely monitoring the situation. We have taken swift action to protect the health and safety of our team, our investee companies and our business partners, and to ensure continuity.
We are open for business
Despite the continued volatility and uncertainty in global economies and financial markets, we will continue to invest actively across our Buyout and Growth businesses.
Our single funding solution, which provides combined debt and equity to fund Buyout transactions offers high levels of deliverability and is therefore a compelling product for vendors and management teams who are looking to transact with certainty.
Our Growth team is about to complete a significant VCT fundraising and, with high levels of liquidity and significant team experience through numerous business cycles, is able to provide support to innovative UK companies looking to grow in spite of the macro environment because they are breaking the mould with new business models and cutting edge technology.
Our current portfolio may well face some challenges, but with low levels of bank leverage and our strong continued support, we believe these companies will be in a better place to emerge from this crisis as larger, stronger players in their markets.
We are in a strong position to deploy significant capital in the months ahead.
Working flexibly and effectively
As of the start of this week, we transitioned our entire business to remote working. We have the technology to work seamlessly from any location. This was well-tested in advance and we are operating as normal. There has been no disruption to our business activities.
Actively engaging with our business partners online
In conjunction with home working, we have applied travel restrictions and social distancing for all our staff for all non-essential meetings. This has been effected by a move to video and conference calls, using Teams, which is an extremely effective business tool.
We have found that many advisers and portfolio companies have already made the same move – we are in the midst of a really effective new way of working. Of course, we will miss the face-to-face contact but we will have to find new and creative ways to interact with our important business partners.
We may not be in the office but we are at our desks and looking forward to being in touch. We wish you and your families the very best of health.