Executive Summary
Trinity Venture Capital Limited (TVCL) was established in 1997 as a private equity investor and investment manager, managing risk capital for predominantly early stage and expanding Irish companies. Its Executive Chairman, Shane Reihill, founded TVCL and appointed John Tracey as its Chief Executive on its inception.
TVC Holdings plc is a newly incorporated holding company based in Ireland. On Admission, TVC Holdings will own Trinity Venture Capital Limited (\TVCL\) as well as a 78% interest in the investment portfolio of Trinity Venture Fund 1 (\TVF1\) and a 82% interest in the investment portfolio of Trinity Venture Fund 2 (\TVF2\). These investment portfolios, together with TVCL's direct shareholding in Norkom, (the \Initial Portfolio\) consist of substantial interests in 14 companies. TVC Holdings' objective is to leverage the proven strengths of the TVCL investment team and to maintain its focus on capital appreciation.
Company History
- In 1997 TVCL established its first fund, Trinity Venture Fund 1 (“TVF1”), and raised Total Committed Capital of €24.1 million, predominantly from institutional investors.
- In October 2000, TVCL established its second fund, Trinity Venture Fund 2 (“TVF2”), and raised Total Committed Capital of €138.7 million, predominantly from institutional investors. This fund’s initial investments were primarily in software companies.
- In June 2007 TVC Holdings plc was founded.
- In July 2007 TVC Holdings plc acquired 100% of the share capital of TVCL in return for an issue of ordinary shares to the shareholders of TVCL.
- In July 2007 19 of the 22 Limited Partners in TVF1 and TVF2 transferred their interests in the funds to TVC Holdings plc, in return for an issue of TVC Holdings plc ordinary shares to them. The effect of this transfer was to make TVC Holdings plc a 78% Limited Partner in TVF1 and an 82% Limited Partner in TVF2.
- In July 2007 TVC Holdings plc completed a placing of €50 million and was admitted to trading on IEX and AIM.
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