Winchester maintains relationships with institutional investors having direct investment programs. These include private equity firms, venture capitalists and funds organised for leveraged management buy-outs. In this activity and when invited, Winchester may take a principal position alongside its co-investors. Generally we will not consider direct investments of less than $5 million. Co-investment is sourced from sophisticated institutional investors. These co-investors typically seek to back management teams with business plans that demonstrate a satisfactory return on investment, proprietary technologies or innovative products. The ability to offer global market potential and capture a commanding market position within a foreseeable period of time are strong considerations. We can assist in structuring transactions to include a direct investment of a corporate strategic partner, as a means of technology validation and to mitigate commercial risk.