I felt it important to offer some words of reassurance at this time of difficulty, while we are all being bombarded with bad news.

Life at Amadeus continues calmly; thankfully our team and their families are well. Our brilliant IT team got us set up remotely very fast as you can see from a virtual birthday party held on day one of lockdown. 

We are continuing to complete the new deals and follow-on investments that were planned, all of which will be announced shortly. 

Meanwhile several of our healthcare portfolio companies are contributing to the fight against COVID-19:

Congenica, the clinical decision support platform for the analysis of complex genomic data, is working with the UK government to develop a genetic test to pick up strains of the coronavirus.

Healx is applying its AI-driven rare disease treatment discovery platform to accelerate identification of treatment for the virus.

Sphere Fluidics‘ systems for the rapid screening and characterisation of single cells can take about three months off the cell line development process, which, in turn, enables researchers to make a new vaccine much faster.

Protein characterisation specialists Fluidic Analytics are working on issues regarding which biologic drugs are interacting with spike proteins in COVID-19 and looking at which vaccines bind tightest to serum antibodies.

Lumeon, which provides care pathway management for healthcare systems and already works with the UK’s NHS, has developed rapid response solutions to help overburdened care teams automatically screen and educate their wider population, managing the urgent need to prevent all but the most critical patients from entering emergency departments.

We also have investments able to benefit from the upsurge in online and remote working such as:

Baby2Body offers fitness and wellness support for pregnant women stuck at home.

Doctify, the healthcare review platform, has provided over 500 doctors and specialists with video consultation tools.

Fraud detection platform Ravelin delivers protection for companies working with an increase in payments online.

ContactEngine’s AI-powered customer engagement technology has been in great demand as call centre staff are working from home.

All our companies are conserving cash and taking advantage of the new government programmes that are open to them.

We are extremely fortunate that – having lived through two previous crises (the dotcom bust and the financial crash) – we have an actively thought-out and prudent reserves policy. While we are triaging and carefully weighing up each investment decision, we have the capacity to support all the portfolio companies which we had planned to.

We are extremely grateful that several of our investors have reassured us that they are there to stand behind any capital calls. The solid support that they have shown to us in the past few weeks has enabled us to take a measured response to the crisis.

We at Amadeus have been impressed by our creative and dedicated entrepreneurs and their teams, who are adapting quickly to this new environment, and I am personally extremely grateful for the resilience of my colleagues. However, none of this would be possible without our LPs who have been steadfast in their support and we trust will be duly rewarded in time.

Anne Glover
Chief Executive