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Octopus Ventures invests £1.25 m The Key Revolution
- representing the first investment for Octopus Titan VCTs


3rd June 2008

Octopus Ventures invests £1.25 million in The Key Revolution, representing the first investment for Octopus Titan VCTs

- Work securely from any computer – leave ZERO trace behind -
- Technology licensed and commercialised by ex-Vodafone team –
- Technology patented by Vodafone -

Octopus Ventures Ltd, the Private Investor Group specialising in investment in early-stage businesses valued at between £2 million and £10 million, is pleased to announce an investment of £1.25 million into The Key Revolution Limited (‘TKR’ or ‘The Company’) in return for a substantial holding in the Company.

Patented by Vodafone, the technology has been licensed and will also be brought to market by an ex-Vodafone team. TKR provides nomadic computer users with an entirely secure, cost effective and portable office solution, through the use of the ‘Mobiu’ patented USB key.

The majority of the funding has been provided through Octopus Titan VCT 1 plc and Octopus Titan VCT 2 plc (‘the Fund’) which were launched in October 2007 in order to generate real returns for investors over the longer term through investment into early-stage and expansion-stage companies. This investment represents the first to be made on behalf of the Fund by Octopus Ventures, its Investment Manager. The remaining proportion of the investment in TKR was raised through the Octopus Ventures Private Investor Group.

This highly innovative device, consisting of a simple USB key and embedded SIM (‘Subscriber Identification Module’) card, enables users to access the standard applications available on any Windows Operating System (Word Processing, Spreadsheets, Presentations), browse the internet, secure access to documents held in their ‘MobiVault’ remote storage, and collaborate with other Mobiu users in secure ‘MobiRooms’ from any location and without leaving any trace on the PC’s hard drive or the operating network residing on it.

In order to activate the Mobiu key, users simply insert it into a computer’s USB port and enter a PIN number which is authenticated against a central database - providing the user with the same “chip and pin” functionality associated with the use of a bank card at an ATM or store checkout.

Once the SIM card has been validated using the SIMAssured™ technology platform, users are able to create or edit their documents and then store these securely online through the MobiVault, TKR’s secure and remotely hosted server. After the Mobiu key has been removed from the PC no user ‘footprint’ remains and all data is saved on the device and backed up through TKR’s server. Like mobile phones, lost or stolen Mobiu keys can be deactivated as soon as access is next attempted and replaced, thereby ensuring total security.

In January 2007, TKR was created by an ex-Vodafone team of employees to license and commercialise the technology. Vodafone is still a major shareholder in the business.

TKR commenced beta testing with paying customers in February 2008 and the launch of its full commercial offering is anticipated to take place later in Summer 2008.

Commenting on today’s announcement, Simon Rogerson, Chief Executive, Octopus Investments, said: “The Key Revolution is a perfect example of the type of high quality young business in which the Octopus Ventures team seeks to invest. In light of Octopus Ventures’ strong track record in the identification of compelling business propositions and their ability to help these develop, we are confident that investors in the Octopus Titan VCTs will witness substantial returns on their investments.”

Alex Macpherson, Chief Executive, Octopus Ventures, explained: “Key Revolution brings together some of the brightest, most forward-thinking technology experts and has the ability to genuinely transform the way in which we all work. The Mobiu key is the only product on the market that enables completely secure remote working through the use of a single device, without the costly infrastructure requirements that have traditionally been associated with this process.

“The uniqueness of Mobiu, combined with the quality of the management team in place and a growing trend towards more flexible working, means that The Key Revolution has the potential to become a major global technology player.”

Adrian Burholt, Chief Executive, The Key Revolution, said: “We are delighted that in Octopus Ventures we have not only secured a blue chip investor but access to a wealth of industry expertise through the Octopus Investor Group, many of whom have been successful technology entrepreneurs in their own right. The combination of funding and the guidance that Octopus Ventures can provide as we enter our next phase of development will help to ensure that Mobiu is a commercial success.”

-ENDS-

Octopus contacts

The Millbrook Partnership:
Michaela Hopkins/Emily Bastin
Tel: +44 (0) 20 7520 9455

Octopus Investments PR:
Rob Forbes
Tel + 44 (0) 20 7710 2840


The Key Revolution contacts

Clarke Mulder Purdie:
Sarah Mulder/Niamh O’Grady
Tel: +44(0) 20 7401 8001

The Key Revolution:
Miles Cheetham
Tel: +44 (0) 1635 898313


Notes to Editors:
About Octopus Ventures (www.octopusventures.com)
Octopus Ventures, a subsidiary of Octopus Investments, is a venture capital company with support from a dedicated Octopus Private Investor Group, which provides many competitive advantages.
The Private Investor Group was formed by a group of successful entrepreneurs and businessmen to provide capital and business expertise to small, fast growing companies. The Company received FSA authorisation in June 2000. Over the past seven years, the Octopus Ventures team has invested £17.7m into 27 companies and generated a return of 61% per annum (equivalent to 4x the amount invested) from 11 liquidity events. Across the entire portfolio (including those investments not yet realised), Octopus Ventures’ annual rate of return has been 29%.
In October 2007, Octopus Investments launched Octopus Titan VCT 1 and Octopus Titan VCT 2 which have since raised £30 million. Octopus Ventures is the Investment Manager of this Fund. The focus of the fund is to generate real returns on investors’ money over the long term by investing into unquoted companies with strong growth potential. The typical deal size will range from £500,000 to £2 million and the portfolio is expected to encompass investments in 20-25 unquoted companies. The Fund is structured as a twin VCT to enable it to make investments of up to £2 million per company, twice the amount possible for single VCTs.

Following the continued demand seen by Octopus Titan VCT 1 and 2, Octopus Titan VCT 3 plc was launched in May 2008. Like the previous Titan VCTs, Octopus Titan 3 has been designed to deliver strong returns to investors through investment into smaller UK companies. The Fund will seek to raise up to £25 million in the 2008/2009 tax year and will have the potential to support up to 30 unquoted UK companies.

About Octopus Investments (www.octopusinvestments.com)
Established in 2000, Octopus Investments is one of the UK’s fastest growing alternative investment specialists, providing investors with access to a growing range of innovative investment products including VCTs, Enterprise Investment Schemes, Inheritance Tax Solutions, Business Property Relief Products and a range of UK equity OEICs.

Since its inception, Octopus Investments has doubled its customer base annually to over 13,000 today and grown its funds under management by 100% per annum to over £500 million. The Company enjoys leading positions in every market area in which it operates:

Leading VCT provider in the UK
* In 2008, IFAs voted Octopus the “Best VCT Provider of the Year” at the Professional Adviser Awards for the second consecutive year.

* Octopus VCTs have also been short-listed for “VCT of the Year” in each of the last three years.

* As at 1st October 2007, two of the VCTs managed by Octopus Investments, Eclipse VCT and Eclipse VCT 2, were the top two performing VCTs out of 26 generalist VCTs that raised funds in the 2004/2005 tax year (source: Tax Efficient Review).

Inheritance Tax Solutions significantly outperforming index
* Shares selected by the Inheritance Tax Solution team have averaged a performance of 33.5% versus -1.26% performance of the whole AIM market in the period from 1st January 2005 to 14th March 2008.

* Unlike gifts or trust solutions, Octopus Investments IHT products are fully exempt from inheritance tax after two years as opposed to seven years. They also ensure that customers can keep control of, and access to, their assets during their lifetime.

Top performing Smaller Companies OEICs
* The CF Octopus Opportunities Fund, which invests in a diversified portfolio of UK smaller companies, is the number one rated UK smaller companies fund (out of 53 funds) since inception in August 2007.

* In March 2008, Octopus launched the CF Octopus Dynamic Fund. This fund focuses on mis-priced stocks with a catalyst for re-rating. Like the CF Octopus Opportunities Fund, this Fund is designed to deliver absolute performance in all market conditions and has the flexibility to take short positions.

Largest provider of EIS solutions
* Octopus Investments is the largest provider of EIS solutions in the UK.

Leading private equity player in sub-£25million deals
* Octopus completes more deals annually within the sub-£25 million space than any other company.

Additionally, Octopus was recently voted the top UK financial services company to work for in the Sunday Times survey of “Best 100 SMEs to Work For” in 2008.

About The Key Revolution (www.thekeyrevolution.com)
The Key Revolution was created by a team of ex-Vodafone employees to license and commercialise technology patented by Vodafone. This technology enables internet users to securely authenticate themselves and encrypt their data using the SIM (Subscriber Identity Module) - familiar to billions of mobile phone users worldwide. The Key Revolution was licensed to use the technology in September 2007 in return for an early equity stake. The first product from The Key Revolution based on their SIMAssured™ technology platform is Mobiu, a portable office solution which uses a unique SIM enabled solution to access files and applications securely from any online PC.


Publisher Contact Information:

Octopus Ventures (www.octopusventures.com),
020 7520 9455
ov@millbrookpartnership.com

Company profile of Octopus Ventures
Past press releases of Octopus Ventures.

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