15 Jan 2008
Venture Capital fund takes significant stake in the service transformation company
- Further confirmation that service transformation is top of the agenda for Local Authorities
- Councils must find significant cost savings and performance improvement
Wokingham, Berkshire January 15, 2008 - Sequena, the UK based business transformation company announced today that all paperwork has been completed on the investment of an undisclosed sum by Basingstoke and Deane Borough Council (BDBC) through their 3en Ventures capital fund in return for a significant stake in the company.
3en Ventures (3en) is a new type of investment fund and the first ever to be set up and funded exclusively by a local authority. 3en was set up by BDBC in 2005 to use a capital fund for a generating enterprise project. This project became 3en and is named after its goal of encouraging entrepreneurial enterprise.
Nick Gurney-Sharpe, Chief Investment Officer of 3en, said: "We look for businesses which meet a significant and acute customer need. Given the substantial requirement for service transformation in the public sector today, Sequena are perfectly positioned for high-growth in the next 5 years fitting the goals of the Council's 3en fund."
"Sequena's mission is to be the market leader in the provision of transformation software and management consultancy services to the UK public sector organisations to literally transform service delivery for improved efficiencies resulting in lower costs and better performance." said William Fell, Managing Director of Sequena. "We are delighted to secure this funding which is a major stepping stone onto our next phase of evolution".
About SequenaSequena are transformation experts providing software and services to achieve significant cost savings and performance improvement of service delivery. We help Councils, NHS Trusts and Private Sector companies to carry out service transformation.
More information:
www.sequena.com
About Sequena's LASER programme
LASER - Lean Approach to Service Evaluation and Re-engineering - provides a compact, focused review capability for transforming service delivery for local authorities in all service departments including planning and building control, environmental health, benefits claims, housing and social care.
More information:
click here for LASER details
About 3en Ventures
3en Ventures is an innovative fund, focused upon high tech businesses within software, IT and IT services, telecoms, new media and electronics is managed by Innvotec, one of the UK’s leading specialist managers of regional venture capital funds.
More information:
www.3enventures.com
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