UK-based oil and gas services investor Epi-V is securing the support of private equity firm LDC.
LDC, which committed €50m in 2007, has confirmed an extension of funding to support further investments by Epi-V in the emerging technology and service innovations.
Founded in 2007, Epi-V commits between €2m and 10m of equity in each deal and works with management team to harness its capital experience and contacts to encouraging adoption within the global industry.
Over the past two years the fund has invested in seven businesses from across the UK and Norway which are developing products and services which help the upstream services sector overcome challenges and pursue new opportunities.
Epi-V’s current portfolio includes a specialist manufacturer of oil field measurement equipment, two Norwegian businesses, one of which is a developer of advanced drilling tools and a company created to extract hydrocarbons from surveyed sites across the UK and Europe. It also invested in Aberdeen-based Brinker Technology, whose technology mimics the process of blood clotting to remotely locate and seal leaks in production and pipeline infrastructure.