Camrivox, with Chairman and key investor the affable Phil O’Donovan of CSR fame, thanks “the many private individuals who have supported the company with their advice, expertise and investment“. No doubt many will have been from the Cambridge Cluster.
With Camrivox, O’Donovan has adopted a very different equity strategy, or Equity Fingerprint, from the approach used for CSR which was powered by major VCs such as Amadeus and 3i. In the second round of £1.2million, he has gone with NESTA, Bank of Scotland Growth Equity and Onion to add to follow-on investment by Create Partners and Cambridge Cluster angels.
Will O’Donovan need the boosters of the VCs to take Camrivox global? He will need to create a massive CSR style valuation jump before the next funding round to avoid dilution to the early investors. CSR also benefited from the world-wide networks of the VCs to attract CEOs and key staff. Can Camrivox do it alone?
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