Beringea, manager of ProVen VCT and ProVen Growth and Income VCT (PGI VCT) has completed ten deals for the VCTs since January 1, 2007. A solid mix of new expansion capital deals (Dianomi, Harmony Media Group, Coal Restaurants, Steak Media, Imagestate and a second-round investment in i-level) has been balanced with an investment in AIM-listed Coolabi, two management buy-outs (Eagle Rock and The Vending Corporation) and an investment in Optima Data Intelligence’s acquisition of WDIS.

The ProVen VCTs' Investments in 2007:

February
- Second round of funding announced for award-winning digital agency i-level

May
- Investment in the £5.5m AIM placing by intellectual property specialists Coolabi
- Online lead generation company Dianomi raises expansion capital
- Funding provided for the acquisition of WDIS Ltd, a specialist business-to-business data management company, by Optima Data Intelligence Limited
- Management buy-out of leading independent producer and publisher of music programming, Eagle Rock Group Limited, from HgCapital.
- Investment in Saffron Media Group - the newly formed parent company of Filmnight Digital and Saffron Digital.

July
- Management buy-out of The Vending Corporation, the UK’s leading independent distributor of chilled beverage and snack vending machines.
- Expansion capital warms up Coal Restaurants
- Expansion capital funding for rapidly growing expert digital marketing agency Steak Media

October
- £2 million expansion capital deal announced with Imagestate - one of the world’s leading image rights agencies

Beringea Managing Director Stuart Veale commented:
'Beringea has enjoyed high quality deal flow in 2007. The success of the ProVen VCTs’ historic and existing portlio has been a strong factor in attracting great companies and in winning deals, many of which had competitive offers from other funders.
We have also benefited from the opportunity to back entrepreneurs from previous successful investments, Coal Restaurants (John Gater - Ma Potters) and Steak Media (the eSpotting team).
Deal flow for Beringea remains robust, with the recent turmoil in the financial markets having little impact on our target companies of small and medium sized enterprises with high aspirations.’