Triple Point Impact EIS makes first investment

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Triple Point, which provides innovative and compelling investment solutions for private and institutional investors, has made the first investment via its Impact EIS.

It’s committing up to £250,000 in MWS Technology, a Software-as-a-Service business that aims to transform the efficiency and compliance of organisations that deliver apprenticeship training.

London-based MWS is led by Richard Alberg. He previously established, grew and successfully exited PSL, a niche technology SaaS company that was sold to Kenexa, a NASDAQ HR solutions provider, later acquired by IBM.

The investment will support the growth of MWS, increasing its workforce by almost 50% and helping to develop its ‘Aptem’ product. This is the only end-to-end technology platform software that can deliver the functionality required for forward-thinking training providers.

Aptem provides advisors and operations managers with all the tools they need to manage and efficiently deliver contracts, reducing complexity and costs by incorporating different business processes such as funding systems, learning delivery systems and client relationship management software into one easy to use platform.

In May last year, the Government committed to increasing apprenticeship numbers through the Apprenticeship Levy, a payroll tax of 0.5% for all employers with a wage bill of in excess of £3m. Forecasts suggests that funding for apprenticeships will increase from £1.5bn per annum in 2017 to £3bn in 2018. What’s more, employers are incentivised to spend the levy as it attracts a Government subsidy of 10% and is lost if not spent within 24 months.

Triple Point believes there is an excellent opportunity for apprenticeship providers to utilise advancements in technology to help adhere to the Government’s compliance and changing delivery requirements as well as GDPR which has focused attention on data location and security.

Its recognised that skill shortages are the biggest domestic risk to UK growth and competitiveness. The most recent CBI education and skills survey found three-quarters of firms expect to increase their number of high-skilled roles over the coming years, with 61% concerned about a lack of sufficiently skilled people to fill them.

Belinda Thomas, Partner at Triple Point, said:  “We are delighted to invest in MWS Technology. The highly skilled management team, led by Richard Alberg, has proven experience delivering shareholder value by growing similar businesses and we recognise a clear strategy that render the company a compelling growth prospect. The apprenticeship training sector looks set for explosive expansion and MWS technology has identified a clear gap that will enable providers to upskill thousands of young people helping them to realise their ambitions and career potential. We looking forward to working with him and the team over the coming months and years.”

Richard Alberg, CEO, MWS Technology, added: “Our Aptem system has all the tools available in one platform to allow apprenticeship providers to support the next generation of talent. We’re very excited to bring the experience and expertise of Triple Point on board to help us maximise our growth potential and expand our footprint.”

The Triple Point Impact EIS offers investors a portfolio of between eight and 12 fast-growing companies across four key sectors – the environment, health, children and young people, and inequality. The funds raised provide scale-up capital for revenue-generating companies, which have the potential to achieve returns of 5-10x.

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