Top Technology Ventures Limited
IP Group Offices
24 Cornhill
London
EC3V 3ND

Tel: 020 7444 0050
Fax: 0845 074 2929
email: ttv@toptechnology.co.uk

Member of the British Venture Capital Association
Top Technology Ventures Limited is Authorised and Regulated by the FSA
Copyright Top Technology Ventures Limited. 2000-2007. All rights reserved.

Please read our Legal Notices

Top Technology Ventures is a UK-based venture capital company which specialises in providing equity funding for early stage technology based growth companies. Founded in 1986, Top Technology Ventures has a strong track record and has earned a reputation for significant expertise in the early stage UK technology sector. In June 2004 Top Technology Ventures became part of IP Group plc (www.ipgroupplc.com). The investment team manages funds totalling approximately £49 million. We have a straightforward, open and collaborative approach to investment. We add value to portfolio companies through our experience, support on strategic and corporate finance issues and extensive contact network. Top Technology Ventures focuses on high growth technology companies, with the first investment being typically between £400,000 and £1.0 million. Our general early-stage funds have mostly invested in the fields of information and communication technologies, but we also look at life science and physical science companies. Top Technology Ventures' Managing Director, Harry Fitzgibbons, started investing in early stage UK technology businesses in 1982 through Hambros Advanced Technology Trust (HATT), a publicly quoted investment trust. Top Technology Ventures raised a second fund, Hambros Advanced Technology Trust II LP, of £10.6 million in 1991 which was invested in parallel with HATT II (1993), a £2 million co-investment fund raised in 1993. Top Technology Ventures currently manages two funds: Top Technology Ventures IV, investing funds totalling £17.8 million in early-stage technology companies, and IP Venture Fund investing £30 million in spin-out companies at IP Group's partner universities. Top Technology Ventures is a member of the British Venture Capital Association (www.bvca.co.uk) and is authorised and regulated by the FSA.

Harry Fitzgibbons, Managing Director. hf@toptechnology.co.uk Harry was a director of Hambros Bank from 1972 to 1983 with responsibility for United States corporate finance and for Hambros' portfolio of international unquoted investments. He was instrumental in establishing Boston Hambro Capital Company and Hambro International Venture Fund, both of which were venture investors in the United States. He left Hambros for two years to set up the London subsidiary of L.F.Rothschild, Unterberg, Towbin, an American investment bank before returning in 1986. Harry was educated at Harvard College and Trinity College, Oxford and is a graduate of Harvard Law School. After briefly practising law in New York, he served as an officer with the United States Special Forces and with the Department of State, Washington DC. Before joining Hambros in 1972, he was an international banker for four years with Lehman Brothers in New York. Magnus Goodlad, Investment Director. mg@toptechnology.co.uk Magnus joined Top Technology Ventures in June 2000 after four and a half years with Slaughter and May practising a wide range of corporate, banking and finance law. He has worked for Jardine Matheson in Hong Kong and China and as a consultant to URI Inc, a software services provider based in Seoul, and to Lobster.co.uk, an online fine food and wine retailer. Magnus has a first class degree in Law from Oriel College, Oxford. He is a director of Commerce Decisions Ltd, OneClickHR plc and Nanotecture Ltd. Charles Winward, Investment Manager. charles.winward@ipgroupplc.com Charles joined IP Group plc in April 2007 to manage investments in Top Technology Ventures, the Group’s venture capital fund management subsidiary. Previously Charles was Vice President Technology Infrastructure at JPMorgan Chase & Co, where he worked in a variety of roles in London, New York and Brussels, and Investment Manager at Axiomlab, an AIM-listed early stage investment specialist. Charles has an MBA from the University of California at Berkeley and a Bachelors in Mechanical Engineering from the University of Bristol.

When we review investment opportunities we are looking for businesses which possess the following characteristics:

a strong management team with the breadth of skills and ability to grow the company quickly. Not all of the elements of the team need to be in place at the time of investment. We can help build the team as required a focus on under-served, growing and potentially substantial markets products with international potential a scaleable business model proprietary technology with strong IPR and a defensible technological advantage over the competition market-driven rather than technology-led development product at prototype / beta-testing stage potential to achieve an exit for investors within four to six years

Top Technology Ventures expects to invest between £400,000 and £1.0 million at the time of a first investment and will follow on where appropriate in subsequent funding rounds. We are happy either to act as lead investor or to participate in syndicates raising larger amounts (usually up to a maximum of £3 million). Top Technology Ventures will normally look to invest in the first "institutional" round of financing, following earlier angel and/or "friends and family" financing. We aim to keep financing structures simple in order to align our interests with the entrepreneurs as far as possible. Top Technology Ventures focuses on computer hardware and software, internet tools and infrastructure, communications, networking and electronics as well as medical equipment, diagnostics and other technology based businesses.

If you believe that you have an investment opportunity which meets our investment criteria please either contact one of the investment team. Alternatively, you can e-mail ttv@toptechnology.co.uk or send us a hard copy of your executive summary and/or business plan by post. All business plans received will be treated in strict confidence. There are some relevant articles in the Business Plans section on our Links page, but the questions below are those we always expect to be addressed : What is your product and who are you selling it to? Why will your customers buy it and what problems does it solve? What are the competitive advantages of your product? What is the size of your potential market (in the United Kingdom, Europe and worldwide)? How are you selling your product (in the UK and overseas) and how is it priced? Who are your current and likely competitors and why will you stay ahead of them? What other risks does your business face? Why are you and your team qualified to execute the business plan? What stage is your business at and what will you use the funding for? What milestones will you achieve with the money you are raising? What intellectual property protection do you have? What financial performance are you forecasting?

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Commerce Decisions Limited Magdalen Centre Oxford Science Park Oxford OX4 4GA Tel: 01865 784350 Fax: 01865 784351 www.commercedecisions.com Complex procurement software solutions provider.   Foviance 14 Bonhill Street London EC2A 4BX Tel: +44 (0)8450 546 500 www.foviance.com Online behavioural analysis software that analyses every interaction customers make with your web site. IP Group plc 24 Cornhill London EC3V 3ND Tel: 0207 444 0050 Fax: 0845 074 2928 www.ipgroupplc.com An intellectual property business establishing long-term partnerships with universities, becoming a stakeholder in their intellectual property and enhancing the way in which the intellectual property is commercialized. Floated on AIM October 2003. Netronome Systems Betjeman House 104 Hills Road Cambridge CB2 1LQ Tel: 44 1223 372460 Fax: 44 8701 991231 http://netronome.com Netronome Systems develops high-performance network flow processing, deep packet inspection and application acceleration solutions for networking, communications and security appliance manufacturers and the IT organizations that use them.

	ANT plc Cambridge Business Park Cowley Road Cambridge CB4 0WZ Tel: 01223 716400 Fax: 01223 716401 www.antlimited.com
ANT is a leading provider of browser, user interface and content rendering software solutions for interactive TV, STBs, DVD and other consumer electronics devices, industrial appliances, service operators and silicon vendors. It floated on AIM in March 2005

	Nanotecture Limited Epsilon House, Chilworth Science Park, Southampton, SO16 7NS Tel: 07960 950956 www.nanotecture.co.uk
A development stage company with a unique and distinctive nano-materials platform technology. The technology has a variety of potential applications but is currently focused on power sources, filtration / separation media and sensors.

	Arieso Limited Venture West New Greenham Park Newbury Berkshire RG19 6HX Tel: +44 (0) 1635 500 347 Fax: +44 (0) 1635 500 304 www.arieso.com
Provider of advanced optimization and network planning solutions primarily for 3G cellular networks.

	Oxford RF Sensors Ltd Unit 14A, Oddington Grange Weston on the Green, Oxfordshire, OX25 3QW Tel: (1)1865 331 000 Fax: (1)1865 331 002 www.oxfordrfsensors.com
Oxford RF Sensors designs non-contact electromagnetic sensors based on patented RF technology developed at the University of Oxford. It specialises in providing innovative solutions to measurement problems that existing sensor technologies can't solve.

	Oxford Nanolabs Ltd Begbroke Science Park, Sandy Lane Kiddlington, OX5 1PF Tel: +44 (0) 870 486 1966 Fax: +44 (0) 1865 854 830 www.oxfordnanolabs.com/
Oxford NanoLabs (ONL) is a nanobiotechnology diagnostic company developing highly innovative products for applications in genomics, pharmacogenomics and high throughput drug discovery as well as for the Home Defence and Security sectors.

	Oxford Catalysts 115e Milton Park Oxford XO14 4RZ Tel: +44 (0)1235 841 700 F: +44 (0)1235 841 701 www.oxfordcatalysts.com/
Oxford Catalysts, which was listed on AIM in April 2005, produces specialty catalysts for the generation of clean fuels, from both conventional fossil fuels and renewable sources such as biomass.

	Revolymer Ltd Dock Road Mostyn, Flintshire CH8 9HE Tel: +44 1745 562301 www.revolymer.com
Revolymer has developed and licensed technology for non-stick clean chewing gum. The Revolymer low adhesion polymer is currently being registered for food use in Europe and US, and will be available in the market in early 2008.

	Perpetuum Ltd Epsilon House, Southampton Science Park, Southampton SO16 7NS Tel: +44 (0)23 8076 5888 Fax: +44 (0)23 8076 5889 www.perpetuum.com
PMG Perpetuum’s vibration energy-harvesting microgenerators are an enabling technology, making wireless, battery-free sensors a reality. The high-performance microgenerators convert vibrations into useable electrical energy to power sensors, microprocessors and RF systems.

Top Technology Ventures Limited
IP Group Offices
24 Cornhill
London
EC3V 3ND

Tel: 020 744 0050
Fax: 0845 074 2928
email: ttv@toptechnology.co.uk