A review of past investments.
Medical Devices company
The company has made good progress in the 18 months post investment.
At a conference of NHS consultants, the device was mentioned on the platform by one of the early adopters, and there was quite a flurry around the small pop-up exhibition stand!
Time wise, things have progressed somewhat slower than hoped: even with the most pessimistic of estimates, the medical world with trials and so on seems to work slower than anyone can imagine!
The business will as expected be now seeking additional funding: the current management are rather renowned for their slight caution (or is that being sensible ?!) and so whilst the business bank account is still healthy, are bringing in the new finance.
A number of KIN members invested some time back in a niche travel business. Since then, the business has gone on to acquire another company: that has been successfully completed. There is still scope in the top end of the holiday market for growth and potential further acquisitions too: so an exit is likely to be some 5 years into the future.
This business grew vary rapidly after KIN invested. Like all franchise businesses, managing the franchise network is a huge part of the management work, to ensure that all parties pull together. The last six months has been an important time of doing that work, and adjusting to the new, larger franchisee list: as well as giving focused help to under-performing franchisees, and in some cases tough decisions to end the relationship.
That inevitable bedding down period is now over, and management focus is back on another period of expansion.