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• NVM backs ex-Ithaca management team

  The former management team of Ithaca Business Media has secured £7 million from NVM Private Equity to fund a new business. CloserStill Holdings has been created to purchase mid-sized exhibitions and event businesses, which the management believes it can sell on to larger players.

• Funding boost for ethical retailer

  EthicalSuperstore.com, a Newcastle-based retailer of fair trade and ethical goods, has received £1 million in a third round of venture capital (VC) financing. The funding round, which brings total investment in the company to more than £2 million, was led by existing backer NorthStar Equity Investors (NSEI).

• LCA shuts up shop to new investments

  AIM-listed cleantech investor Low Carbon Accelerator (LCA) does not anticipate making any new investments until it has achieved at least one exit, according to a statement released today. The firm’s management team has decided, ‘given current market conditions, to focus resources on supporting existing portfolio companies’.

• Octopus tops up 21Net investment

  Venture capitalist Octopus has invested a further £220,000 in 21Net, a specialist in broadband provision on high-speed trains.