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Capital for Colleagues plc - Investment in Craft Prospect

Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment

1 September 2021

CAPITAL FOR COLLEAGUES PLC

(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)

INVESTMENT IN CRAFT PROSPECT LTD

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce that the Company has invested in a new portfolio company, Craft Prospect Ltd (‘Craft Prospect’ or ‘CPL’).

Founded in 2017, Glasgow-based Craft Prospect is a space engineering business that develops enabling quantum and AI-based products and mission applications for the small satellite market.

Capital for Colleagues has invested £800,000 in ordinary shares in CPL. Craft Prospect will use the new funds for furthering its flight heritage capability, recruiting additional experience to its team, and developing new products and services, including through its Responsive Operations for Key Services (ROKS) mission, which is designed to demonstrate automated, efficient, and secure quantum communication services by combining responsive operations with Quantum Key Distribution (QKD) technology.

Alongside C4C’s investment, Scottish Enterprise is also becoming a shareholder in Craft Prospect, having invested in CPL through its Early Stage Growth Challenge Fund. Following the investments by C4C and Scottish Enterprise, CPL’s management and employees will have a 74.9% equity interest in Craft Prospect, an Employee Ownership Trust will have 10.0%, Scottish Enterprise 3.8% and Capital for Colleagues 11.3%.

Alistair Currie, Chief Executive of Capital for Colleagues, said:

‘We are delighted to have completed this new investment in Craft Prospect. This funding will enable Craft Prospect to continue to grow capability in Scotland to compete for, and deliver, increasingly sophisticated projects for major clients in the UK and internationally. This is our second investment in the space sector in Scotland and further validates our strategy focused on Employee Owned Businesses.’

Steve Greenland, Managing Director and founder of Craft Prospect, said:

‘This is an exciting time for Craft Prospect and we are delighted to have secured over £1.0 million in investment support from C4C and Scottish Enterprise. This funding will enable us to implement our smart secure space strategy to deploy onboard intelligence and quantum technology based products and services to the sector. We are pleased to have Capital for Colleagues as our investment partner and look forward to working with them to grow our business and develop as an employee owned business.’

The Directors of the Company are responsible for the contents of this announcement.

**ENDS**

For further information, please visit www.capitalforcolleagues.com or contact:


CAPITAL FOR COLLEAGUES PLC
Richard Bailey, Chairman
Alistair Currie, Chief Executive


01985 201 980

PETERHOUSE CAPITAL LIMITED
Mark Anwyl

020 7469 0930

Capital for Colleagues

Capital for Colleagues is an investment company focused on the UK EOB sector. The Company has a proven management team, with a wide network of contacts and affiliates, as well as established access to investment opportunities, enabling the Company to execute its strategy and capitalise on EOB-focused investment opportunities. In addition, the Company educates and assists companies that are looking to launch employee ownership schemes, advising them, amongst other things, on how to secure investment and achieve their objectives.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

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