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MMC Ventures provides further investment for Ibis Project Services

MMC Ventures, a venture capital firm investing in UK growth companies, today has invested a further GBP0.5m of equity in Ibis Project Services.

MMC Ventures, a venture capital firm investing in UK growth companies, today has invested a further GBP0.5m of equity in Ibis Project Services.

Ibis is a consultancy that provides professional appraisal, development and construction management services in the affordable housing sector, working with Registered Social Landlords, landowners and developers.

The investment will allow Vivian Rosser, the new managing director who joined Ibis in October 2008, to strengthen the position of the firm within the social housing sector. Rosser has over 20 years’ experience in the affordable housing market, and joined Ibis from affordable housing investor Assettrust Housing, where he was an executive director.

Established in 1990, Ibis has accumulated experience and contacts within the social housing sector and is situated at the forefront of the Government’s developing agenda for the housing sector.

The services Ibis provide are tailored to those required by Registered Social Landlords and developers to deliver the government’s affordable housing aspirations.

‘Ibis will now diversify the range of services it provides to RSLs, developers and landowners to help them respond to and adapt to difficult market conditions, and to assist delivery of Government targets for the supply of affordable homes’ says Rosser.

‘Whilst the next 12 months are going to be tough for the general property sector we believe that the political imperative to provide social housing will result in significant funds being made available for this part of the sector. We have been very impressed by Vivian’s depth of experience and contacts in the social housing sector and his vision to strengthen Ibis’ services and position.’ says Tom Hopkins, who led the rights issue for MMC.

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