We are pleased to announce the investment by the Jenson Seed EIS Fund into Nifty Drives Ltd (‘Nifty’).
Nifty produce an easy to use device that allows anyone to quickly and simply increase the available storage space in their MacBook computer called the MiniDrive. Unlike a normal SD card, which protrudes from the body of the MacBook when fully inserted, the MiniDrive is designed to sit completely flush with the body of the MacBook, becoming a semi-permanent part of the computer, allowing additional storage for documents, music and movies. The amount of additional storage the MiniDrive provides is only constrained by the storage capacity of the microSD card inside it. Currently the largest microSD cards on the market today are 64GB. Flash memory manufacturers have indicated a 128GB microSD card will become available in Q3 2014.
The founders are Piers Ridyard and Steven Levy. Piers is the managing director and responsible for overall oversight, strategy and decision making of the company. Piers worked front office debt capital markets for JP Morgan before gaining a training contract at Linklaters and completing the GDL & LPC in Law. He independently studied and completed CFA Level 1. He majored in Chinese & Business at Manchester University. Steven is responsible for overseeing the day-to day activities of the company, Steven is working closely with Nifty’s suppliers and customer support team to ensure Nifty’s operation and logistics processes run as smoothly as possible. Steven is fluent in spoken and written Chinese and worked as a project manager for a shopping mall and real estate development company in Shanghai, China. He majored in Chinese & Economics at Leeds University.
Notes to editors:
The Jenson Seed EIS Fund is an exciting joint venture between the professional services firm Jenson Solutions and the fund manager Foresight Group. Further information about Seed EIS and the Jenson Seed EIS Fund is available by contacting us on 020 7873 2122 or SEIS@jensonsolutions.com or, alternatively, look at the website at www.jensonseedeis.com.
About Foresight Group
Foresight is an independent alternative asset manager, which focuses primarily on investments in unquoted UK and European companies or projects and offers investors exclusive access to attractive income and growth opportunities. Foresight has in excess of £800 million assets under management across a number of funds, including Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Since 2001 the partners of Jenson Solutions have provided numerous companies with financial and operational support to help them grow and develop, with the aim of taking them from where they are today to where they want to be. Jenson provide high quality services such as portfolio and interim finance professionals, mergers and acquisitions advice, corporate finance advice, share option set up, share option valuations, IFRS conversions and accounting and financial modelling services to companies both large and small. A key focus of Jenson Solutions has been to support small businesses from start up through their life cycle. When the government announced their plans for the Seed Enterprise Investment Scheme (‘Seed EIS’), we saw an opportunity to work with Foresight to create a fund enabling us to support many of the businesses that we work with and would like to work with in the future.