Rockley Group Eyes $126M First Fund

3rd March 2009

Published by Dow Jones Venture Wire

Oxford, U.K. -- Investment firm Rockley Group has set out to raise its EUR100 million ($125.6 million) debut venture fund, with a EUR50 million first closing targeted for this summer.

The Oxford, U.K.-based Rockley Group was established by brothers Robert Rickman and Andrew Rickman, who previously worked as angel investors.

Investment management of the Rockley Group will be conducted by Rockley Fund Managers.

“At the moment there are a number of people interested [in backing the fund],” Robert Rickman said of the vehicle, Rockley Follow-On Fund.

Rockley, which is targeting both individual and institutional investors, attributes interest in the fund to the firm’s strategy of investing in technology companies with strong cash-flow positions.

To date, Rockley Group hasn’t held a first close or begun making investments from the new fund.

Rockley Follow-On Fund plans to back about 10 companies, investing EUR5 million to EUR15 million per company, with a focus on energy, sustainability, information and communications technology, new media, health care and data management.

Most of the companies will be based in the U.K., Rickman said, with some deal flow in the U.S. and China. The firm is also planning to raise another fund to focus on investments in technology companies overseas, especially Asia, according to Rickman.

Besides Robert Rickman, a former director at specialist fund manager FIM Services Ltd., Rockley Fund Managers’ investment team includes Andrew Rickman, founder and former chief executive of optical components company Bookham Inc.; John Laurie, founder of Oxford Venture Management Ltd.; and John Scott, who previously worked in senior fund management at Oxford Venture. While Oxford Venture still exists, it isn’t making new investments, Rickman said. Oxford Venture wasn’t available for comment by press time.

Reach Rockley Group at 441672511022.

©2009 Technologic Partners