Established in 2003, Seven Spires Investments Ltd. invests in technology-based private companies in the UK with a strong focus on intellectual property. They work with world-class scientists, engineers, and technologists to invest in companies that can address global markets and are expected to scale to a valuation of over $100m. They have an annual budget of around £5m for investment and can invest up to £1m p.a. into any single company. They are prepared to invest at any stage in the development of a company, up to and including the last round preceding an IPO or trade sale. They usually co-invest with others, sometimes acting as lead investor and sometimes alongside another VC lead.