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Student Resources, which provides marketing and learner recruitment services to colleges and training organisations, has received a £600,000 investment from Enterprise Ventures.

In return, Enterprise Ventures has taken a minority stake in Student Resources and appointed a director for the company’s board. The funding was organised by the Coalfields Enterprise Fund, which is managed by Enterprise Ventures.

Chief executive Adrian Oldfield now wants to roll out Student Resources, with more funding rounds and a possible float on AIM. The company is also looking at expansion through recruitment, with a focus on sales staff and the development of the company’s IT and database systems.
 
Enterprise Ventures investment director Wayne Thomas said: “Enterprise Ventures completed an in-depth commercial review of the market opportunity, which was very supportive of management’s views and the potential for the business.”

Accountancy firm Andrew Wright & Co has advised Student Resources since the latter was founded. Led by principal Andrew Wright and section manager Janette Tasker, the firm had to complete Student Resources’ year end and connected management accounts in a tight time scale. 

Andrew Wright said: “It was vital that Andrew Wright & Co produced the required accounts and answered the due diligence questions extremely quickly so that this deal could be concluded.”

Coalfields Enterprise Fund, a £10 million investment fund, was set up by the Deputy Prime Minister in 2004 to support business growth in England’s former coalfields.

Enterprise Ventures funds companies in the North and the Midlands. It manages funds such as RisingStars Growth Fund II, which recently invested £600,000 into software company Yuuguu.

Founded in 2005, Barnsley-based Student Resources specialises in promoting colleges and training organisations in the North to gain recognition from work-based funding initiatives. It also helps employers identify the needs of their workforce and work with colleges to find suitable training programmes and potential sources of funding.

The company reported a turnover of £235,687 and a loss after tax of £14,125 for the year to March 31, 2006.

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