Leading independent fund and corporate services provider, the Aztec Group, has assisted the Dementia Discovery Fund (DDF) with its final close and will continue to support the fund with its ongoing administration.
Managed by SV Health, the DDF is a specialist fund that provides venture finance for companies developing new medicines for dementia. It was formed through the collaboration of leading pharmaceutical companies, the UK Department of Health and the Charity, Alzheimer’s Research UK.
Initially launched in 2015, the DDF has brought together funding from the private sector, charity and industry and already has an initial portfolio of 16 investments in drug discovery companies and projects. The fund recently passed its GBP130 million target, thanks to a personal investment of USD50 million from Microsoft co-founder and philanthropist, Bill Gates. The fund reached its final close over-subscribed at GBP250 million.
Aztec Group will support with a range of activities in relation to the ongoing administration of the fund, including financial reporting, investor reporting and complementary corporate services. Led by director, Jim Whittingham, the Aztec Group team will administer the fund from its Southampton office.
Commenting on the Aztec Group’s partnership with SV Health and the DDF, Edward Moore, CEO, says: “We’re delighted to support such an exciting and, above all, worthy investment initiative intent on tackling a disease that is estimated to affect around 50 million people worldwide.”
“There is certainly a growing appetite for impact investing, where investors can make a social impact alongside a financial return, and the DDF is a great example of this. The Group is naturally proud and excited to be involved and to be given the opportunity to offer the fund our expertise and experience in this specialist field.”
Jim Whittingham, Director at the Aztec Group, says: “We have a long-standing presence in the UK, supporting over 70 UK-based managers with their onshore administration requirements. To be selected to administer this remarkable fund is a huge endorsement of our credentials in the UK market and we look forward to developing the excellent relationship we already have in place between the two teams”.
