Decision details

Please note: Cabinet Portfolio Transfer during Decision process

The portfolio was transferred in January 2026. The decision was taken by the Cabinet Member who held responsibility for the portfolio at the relevant time. At the point the Forthcoming Executive Decision was published, the responsible Cabinet Member was Mr Paul King, Cabinet Member for Economic Development and Coastal Regeneration. Following the portfolio transfer, responsibility moved to Mr David Wimble, formerly Cabinet Member for Environment and now Cabinet Member for Economic Development and Special Projects.

Proposed Decision: That the Cabinet Member for Economic Development and Coastal Regeneration:

(a)  AGREE to end the current DPTIF Partnership and transfer the existing shares into the beneficial ownership of Kent County Council

(b)  DELEGATE authority to the Director of Growth and Communities to take relevant actions to transfer the shares and cease the operation of the DPTIF, including but not limited to entering into contracts or other legal agreements, as necessary to implement this decision. 

Reason for the decision

Kent County Council is proposing to end the current Partnership for the management of the Discovery Park Technology Investment Fund (DPTIF), an equity scheme established in 2015 using Regional Growth Fund monies. 

The end of this Partnership will allow KCC to transfer the shares of the six remaining companies within the DPTIF investment portfolio into KCC’s beneficial ownership. The purpose of this action is to ensure financial savings to KCC and allow KCC to retain the shares for future growth potential or exit strategy

Background

DPTIF focused on innovative early stage, high-growth companies initially based in Discovery Park. Managed by NCL under a 10-year partnership arrangement, this ends on the 14 December 2025.

The DPTIF to date has invested £5,202,500 of equity investment into nine companies within the DPTIF portfolio. DPTIF provided equity investments to companies predominantly in the life science sector to support those companies’ growth, five of the companies are still active (see Table 1):

All proceeds from the future sale of shares from companies currently within the former DPTIF portfolio will be returned to KCC, ring fenced as per RGF requirements and re-invested in local companies via the KMBF.

Options (other options considered but not recommended):

The following options were considered:

·         Continue the DPTIF Partnership (not recommended because the sums expended on the Partnership management fees would not result in a significant increase in the value of KCC’s investment portfolio)

·         Closing the DPTIF Partnership and selling the shares held by the Partnership (not recommended as the prevailing economic conditions selling the shares at this time could result in a significant reduction in the value of KCC’s investment portfolio).

How the proposed decision meets the challenges in the Interim Strategic Plan

This proposed decision is consistent with the current strategic plan priority; Levelling Up and is aligned with the strategic direction of travel in the planned new Strategic Statement; particularly the ambition to ‘support local businesses to attract investment’. Decision making will continue to progress in line with the new Strategic Statement once enacted

As Cabinet Member for Economic Development & Special Projects I agree to:

(i)            AGREE to end the current DPTIF Partnership and transfer the existing shares into the beneficial ownership of Kent County Council

(ii)          DELEGATE authority to the Director of Growth and Communities to take relevant actions to transfer the shares and cease the operation of the DPTIF, including but not limited to entering into contracts or other legal agreements, as necessary to implement this decision.