WEST Hill, a corporate finance boutique set up by former HSBC banker Andrew Galloway alongside former James Capel analyst Alan Richards, has added a capital raising vehicle for small cap companies to its offering.
Galloway says he has set up the new facility because it now gives him the opportunity to help management teams looking for up to £5m equity that he hasn’t been able to help in the past.
“The new team bring a lot of individual professional investor contacts with them,” he says.
West Hill Capital will be a stand-alone team led by Robert Caie, which has focused on technology investments but will now also specialise in insurance and financial services, many of which will qualify for tax relief under the Enterprise Investment Scheme.
Investments will typically be between £25-100,000 for the team’s investor base of mid-high net worth individuals.
Since leaving HSBC, where he worked in a team with the veteran football financier Keith Harris, Galloway has initiated deals with a number of insurance groups including Willis, Brit and Omega, where he advised the bidder Canopius.
He says the new capital raising arm has already had a first close financing for Quotall, an aggregator software platform for commercial insurance, and its pipeline includes a buy to let mortgage platform.