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Vemi Invest, Vemi Ventures Group’s asset management arm recently announced the securing of a new mandate, making the business revenue positive for the first time.

The exciting new development was unveiled to investors and partners of the Vemi Ventures group at an event to mark the flagship opening of their new offices off Finsbury Circus. The mandate to raise in excess of $100m for a successful MedTech fund will help invest in tech solutions that may have the potential to revolutionise healthcare. Vemi Invest Partner, Michael Whealon, said that this achievement was a “mark of confidence in our strongly held belief that we can achieve ethical outcomes through finance, without compromising on commercial viability.”

The deal also means that Vemi Invest is now firmly in the black, generating revenue for the firm for the first time since launching a few short months ago. It provides a stepping stone towards building out the asset management business, one that Frederik Wijsenbeek, Chief Investment Officer, hopes will, “allow us to show the market that ethical and Shariah compliant alternative asset management can provide impressive returns on investment, while providing a net-good to the world”.

It also speaks volumes of the team that is being built at Vemi, one that is packed with industry leaders, but with those that want to do things slightly differently. Whealon paid tribute to that fact when he told City AM, “We won this competitive mandate because we are an experienced team that have a track record of delivery. We chose this particular fund because of the potential benefits it could bring to society – in line with our ethos.”