Sponsored by
Science of successful investment in a turbulent economic climate
It's not often that a university academic moves across into the commercial world, which makes Alex Stevenson a valuable asset.
The former scientist broke the mould when he entered the drug development industry and began turning university research into businesses.
In his current role as director of venture capital firm Aquarius Equity Partners, he invests in early stage companies to bring new ideas to the market.
He said: "It's not easy but if you can see both sides of the equation, which not many people can, you are in a good position because you are able to translate between academics and businesses.
"A lot of the problems of getting these opportunities out of universities is the industry not knowing how to bring the product out of universities and the university not knowing how to get it into the outside world."
Aquarius, which has its headquarters in Manchester has just launched its third fund, which will be aimed at private investors.
The 7.5m fund, known as the Aquarius Origin Fund, will make equity investments of up to 750,000 in early stage companies across the North of England.
Dr Stevenson, who is based in Leeds, hopes to make further investments in Yorkshire after completing a 3m deal last year with Leeds University spin-out firm Tissue Regenix to develop revolutionary techniques that could replace organ donors and mechanical parts.
He insists there is still enough entrepreneurial wealth around to back new products but investors are keeping a closer eye on their cash during the economic downturn.
"There is still money to invest but now investors want to have a greater transparency over what they invest in," he said.
"Historically, people put money into more traditional investment products but they couldn't see where their cash was going.
"It's a lot more work this way because investors want to
know where their money is, but we are dealing in smaller portfolio companies and we work very hard to maximise their value."
Born in Edinburgh and raised in Leeds, Dr Stevenson always wanted to be a scientist.
He graduated with a microbiology degree from Leeds University and went on to gain a PhD in microbiology after studying the characterisation of the human herpes virus.
It was while carrying out post-doctoral research for the molecular medicine unit at Leeds University that he became interested in the business side of science.
Working to establish a spin-out company from St James's Hospital enabled him to explore the idea behind bringing science into a commercial setting and he went back to Leeds University to boost his business skills with an MBA.
Dr Stevenson went on to work as a business development manager for Leeds University technology transfer company Leeds Innovations, where he was responsible for identifying and developing commercial opportunities from university life science research.
But it was as investment manager of Leeds-based venture capital backed firm Techtran Group where he really got his teeth into bringing science into the commercial arena.
Establishing drug development firm Syntopix in 2003 and biophysics detection company Avacta in 2004 are two highlights of his career, he said.
Initially backed by venture capital firm Axiomlab, Techtran was acquired by IP group for 20m in 2005.
Dr Stevenson was seconded to Syntopix as chief executive up to its flotation on AIM in 2006 and also led the investment in Avacta, which listed on AIM via a reverse takeover later that year.
He said: "It was very exciting and that is why I do what I do – seeing technology and selling products.
"It's very challenging and varied and it was a real hands-on experience.
"You could be talking about venture capital one day and trying to sort out minor HR issues the next."
In 2006, Dr Stevenson founded Modern Biosciences, the London-based in-licensing and drug development subsidiary of IP Group, which licensed products from universities around the country. But last year he moved back to Leeds and established himself at Aquarius.
Looking to the future, Dr Stevenson plans to raise the profile of Aquarius in Yorkshire and raise sufficient cash to be able to secure Aquarius's new seed fund.
He is also on the Strategic Advisory Board for the new Access to Finance for Healthcare Technology Companies programme, run by accountants Grant Thornton.
He said: "What I enjoy about my career is establishing companies and seeing them grow.
"Working in venture capital is a great way of doing that for a living."
ALEX STEVENSON - THE CV
Title: Director and shareholder of Aquarius Equity Partners
Date of birth: March 20, 1971
Education: Ralph Thoresby High School, Leeds. Microbiology degree from Leeds University as well as a PhD and MBA from Leeds University.
First job: I worked as a waiter in a hotel when I was at school
Car driven: BMW
Favourite film: The Sixth Sense
Favourite song: Win, by David Bowie
Favourite holiday destination: Scotland
Last book read: Engleby, by Sebastian Faulks
What are you most proud of? My family – wife Judith and my three daughters.
Email to a friend
Print this page- Three-inch blanket of snow heading our way today
- Alan Shearer in list of favourites for Leeds and England jobs: Latest odds
- Barnsley’s Keith Hill invokes Fawlty Towers over link with Leeds job
- McCormack feels United search can be narrowed down
- Redfearn throws down gauntlet as queue builds at Elland Road
- Rival chips in with £500,000 to restore the original Harry Ramsden’s
- Visit from Princess as Serbian culture celebrated
- SportsTalk: Leeds United’s manager search, Super League and Calcutta Cup
- Libraries aren’t like supermarkets, they are magical places where dreams begin
- Strategic review will lead to job losses at Yorkshire Bank
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Yorkshire
Sunday 12 February 2012
Today
Light rain
Temperature: 1 C to 6 C
Wind Speed: 8 mph
Wind direction: North west
Tomorrow
Sunny spells
Temperature: 4 C to 8 C
Wind Speed: 16 mph
Wind direction: West
