Helm Godfrey has emerged as the single biggest investor behind Nucleus’ £15m rights issue, with the firm contributing £781,000 to the platform’s cash call.
Nucleus completed the fund-raising exercise in December to clear its debt with South African insurer Sanlam, provide sufficient working capital to ensure profitability and fund its growth plans. Helm Godfrey funded the Nucleus investment out of its £2m cash reserves.
Helm Godfrey managing director Graham Cross, who took over the role from Bruce Wilson this month, says: “The investment we have made is not only testament to our continued faith in the proposition but also our belief in Nucleus as a long-term strategic investment for Helm Godfrey.
“One of the key attractions of the Nucleus proposition has always been the fact that it is owned and controlled by the IFA firms that use it.
“Nucleus’ capital-raising at the end of last year was about ensuring this remained the case for the foreseeable future and as one of the original founder firms, we are pleased to have been able to play our part.”