Communications software company PrismTech has secured £1.5 million from Maven Capital Partners on behalf of the Capital for Enterprise fund.

Communications software company PrismTech has secured £1.5 million from Maven Capital Partners on behalf of the government’s Capital for Enterprise (CfE) fund.

The investment will help Scotland-based PrismTech ramp up marketing and sales efforts to exploit ‘the large and expanding global markets’ for its products, which are sold to companies providing communications equipment to the defence, transport, telecoms and financial industries.

Dr David Milroy, fund manager at Maven, which manages £30 million of the £75 million CfE fund, describes PrismTech as ‘a high-growth, sophisticated global technology business with an impressive blue chip client base’.

The CfE fund was established last year to help successful small and mid-sized businesses having difficulty securing loans because of the credit crunch.

Advisers to the PrismTech deal include legal firms DLA Piper and Muckle and due diligence specialists Symphony Corporate and Oxygen Insurance Brokers.