McClure's help client to government funding "first"

Glasgow based software client Vamosa is the first recipient in Scotland, and only the second in the UK, to receive support from Lord Mandelson’s Capital for Enterprise Fund. The CfE was announced by HM Government in January 2009 as part of its “Real help for business” programme, aiming to provide equity or mezzanine funding of up to £2m for small and medium sized businesses with significant growth potential. It is part of the government’s response to the difficulties faced by SME businesses in accessing funding from the clearing banks.

Vamosa, which has been a client of McClures since 2003, will receive £1m of mezzanine finance from the government to help with its expansion plans. Vamosa’s software product allows large companies and government agencies to track their content and data and assist governance, compliance and risk. Through its US subsidiary Vamosa Inc it aims to use the funding to take advantage of significant growth opportunities in the North American enterprise content governance sector.

For companies based north of Birmingham, the fund is administered by the newly formed buy out from Aberdeen Asset Managers, Maven Capital Partners, (Andrew Craig) with the legal work for Vamosa being carried out by Partner, George Frier and Associate, Colin Cant. For further information on growth funding or the CFE fund, contact George Frier, Head of Corporate on 0141 303 7797 or gfrier@mcclurenaismith.com.

07/10/2009 14:00:00