Braveheart Investment Group, a UK-based venture fund, has won the mandate to run Lachesis, a seed fund for eight universities in the East Midlands. 

 The fund, which was set up in 2002, has £10.25m under management and supports seed investing from De Montfort, Derby, Leicester, Loughborough, Lincoln, Northampton, Nottingham and Nottingham Trent universities.

Braveheart Ventures will partner with Advantage Early Growth, a government and European Regional Development Fund-financed venture capital fund, to provide support, mentoring and business development services to the Lachesis portfolio companies as well as providing fund administration services. 

The contract is for a minimum of two years and Braveheart will be partly incentivised on results. 

Geoffrey Thomson, chief executive of Braveheart, said: "We are delighted that the universities have selected us as their preferred partner for this role.  Over the years we have worked with many university spin-outs and we look forward to assisting…

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