Having lost out in the battle for Wordplex Information Systems, Octagon Group Ltd has secured some compensation by being appointed to manage the UKP5m plus UK and Irish programme of Dutch venture capitalists Euroventures BV. Octagon will look for successful telecommunications, electronics, computing and media companies in which to invest around UKP500,000 a time. Executive responsibility for the UK and Irish programme is in the hands of Octagon Investment Management Ltd’s managing director Christopher Rowlands and he will be assisted by Octagon chairman Dr Alex Reid and Dr Robb Wilmot.Eindhoven-based Euroventures has so far raised UKP93m to back small firms, UKP36m of it in a central fund subscribed to by 17 industrial investors led by Asea, Volvo, Olivetti, Philips, Fiat and 3M.
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