The Rockley Group - that's the name of the new venture capital company initiated by the UK angel-investor Rickman brothers - Andrew and Robert. Along with the company, the duo has also set up a _100 million fund - the Rockley Follow-On Fund - being backed by institutional investors and high net worth individuals.

The fund, which will have a remit to spend in UK's sustainable, first-rate technology companies, will have Dr Andrew Rickman as chairman, and Robert Rickman as managing partner. Other members of Rockley team are John Laurie, the Oxford Ventures Group founder; and John Scott, the former top-notch executive of high-profile venture capital groups.

With focus on diverse sectors - including Energy, ICT, New Media, Sustainability, Healthcare and Data Management - the Rockley Fund will expectedly invest between _5 million and _15 million in each deal. The fund's first close on _50 million is likely by this summer.

The Rockley Fund investments will be made both as development capital, as well as by purchasing secondary shares to meet the liquidity requirements of the current shareholders.

According to Andrew Rickman, "The focus of Rockley Group is on growing companies that operate in large and timely markets. We will back technology based business that represent great investment opportunities but also allow us to unlock hidden value which we can share with our investment funds and partners."