# Voyria > Voyria works with a small number of founders at the moments that matter — scaling, raising capital, and exit. Voyria operates across three interconnected areas: strategic advisory, personal investment, and Vibe Coding for Hotels training (new programme, launching 2025). The firm takes a high-conviction, low-volume approach — working with a small number of businesses at any one time. ## Pages - [Home](https://voyria.com/): Overview of what Voyria is and who it works with. - [The Practice](https://voyria.com/practice): Details of advisory services, including strategic advisory, fundraising & exit support, and board/NED roles. - [Investment](https://voyria.com/investment): Voyria's personal investment approach — thesis, what makes a good fit, ticket sizes, and structures. - [Portfolio](https://voyria.com/investment/portfolio): Active investments across hardware & life sciences, travel, and enterprise intelligence. - [Training — Vibe Coding for Hotels](https://voyria.com/training): A hands-on training programme teaching hotel professionals to build internal tools with AI. New programme launching 2025. - [Principal](https://voyria.com/principal): Background on Frank Reeves, Voyria's founder and principal. - [Perspectives](https://voyria.com/blog): Articles and perspectives from Voyria on founders, investing, and technology. - [Contact](https://voyria.com/contact): How to get in touch with Voyria. ## The Practice Voyria provides strategic support to founders at critical moments — whether scaling, raising capital, or preparing for exit. ### Strategic Advisory - Product-market clarity and ICP definition - Pricing, packaging, and monetisation strategy - Sales motion design (PLG, enterprise, hybrid) - Founder coaching and decision-making support ### Fundraising & Exit - Investment narrative and deck development - Valuation and cap table modelling - Investor targeting and process management - Exit timing, buyer mapping, and due diligence preparation - Sell-side M&A advisory for sub-£5m transactions ### Board & Investment - Non-executive director and chair roles - Governance and strategic oversight - Personal angel investment from Voyria's principal - Typical investment: early-stage to growth-stage, UK/Europe, £25k–£150k ## Investment Voyria only invests in founders where lived operating experience changes the outcome. Capital is the smallest part of the relationship. ### What makes a good fit - Founders approaching inflection points — scale, fundraise, or exit - Businesses where lived operating experience adds genuine value - Alignment on long-term outcomes, not short-term optics ### Investment approach **Ticket sizes:** £25k–£150k **Structures:** SEIS/EIS, SAFEs, convertible notes, equity Often combined with advisory or board involvement. **Value beyond capital:** pattern recognition, go-to-market support, positioning, and exit realism. Voyria's principal invests personally in founder-led businesses in travel, hospitality, and SaaS — typically at early or growth stage, with a focus on UK and Europe. ## Portfolio 8 active investments and 1 exit across 3 sectors, primarily UK. ### Sector 01 — Hardware, Digital Health & Life Sciences **Ikarovec Limited** (https://ikarovec.com/) — Gene Therapy · Ophthalmology Advancing next-generation bi-functional gene therapies for major chronic eye diseases, including Age-Related Macular Degeneration — the leading cause of irreversible vision loss in people over 60. A single-injection treatment targeting the sight of 288 million patients projected globally by 2040. Tags: Early Stage, Life Sciences, Deep Tech **M Spin Ltd** (https://www.m-spin.co.uk/) — Advanced Materials · CleanTech Revolutionising electrochemistry, thermal management, and chemical synthesis through ultra-high surface area metallic mats — 1,000× greater surface area than conventional metal foams. Applications span green hydrogen electrolysers, next-generation batteries, and heterogeneous catalysis. Tags: Hardware, Deep Tech, CleanTech **PhoreMost Limited** (https://www.phoremost.com/) — Oncology · Drug Discovery Turning scientific breakthroughs into life-changing cancer therapies. PhoreMost applies proprietary protein-silencing technology to identify novel drug targets across previously "undruggable" cancer biology. Tags: Life Sciences, Oncology, Pre-Clinical **Wayland Additive Limited** (https://www.waylandadditive.com/) — Metal AM · Manufacturing Tech Makers of the Calibur3® — an eBeam metal additive manufacturing system powered by their proprietary NeuBeam® process. Enables a wider range of metal alloys and geometries than traditional laser or eBeam systems. Tags: Hardware, Manufacturing, Deep Tech **PsyOmics Limited** (https://www.psyomics.com/) — Digital Health · Mental Health Tech Transforming behavioural health pathways with beseen™ — a clinician-developed digital assessment platform covering adults and young people. 6 million lives covered, 78% patient completion rates. Tags: Digital Health, SaaS, NHS ### Sector 02 — Travel **Ski Yodl** (https://www.skiyodl.com/) — Travel Marketplace · Alpine Tech The fastest-growing online marketplace for self-catered ski holidays, built on local expertise. 4,500+ hand-picked properties across the Alps, #44 Startups 100 ranking, revenues growing 300%+. Tags: Marketplace, Travel Tech, EIS **Slerp** (https://www.slerp.com/) — F&B Commerce · Restaurant Tech The #1 rated online ordering system for restaurants and food brands (4.9★ Capterra). Gives food operators their own branded ordering channel — delivery, click & collect, catering and loyalty. Tags: SaaS, Commerce, F&B **SHR Global** (https://www.theaccessgroup.com/) — Hospitality Tech · Exited A leading hospitality technology provider delivering reservation, distribution, and revenue management solutions to hotels worldwide. Voyria invested in 2022; SHR Global was subsequently acquired by The Access Group in 2024, delivering a successful exit. Tags: Hospitality Tech, Exited 2024, Travel Tech ### Sector 03 — Enterprise Intelligence **Blackdot — Videris** (https://blackdotsolutions.com/) — OSINT · Investigative Intelligence Blackdot's Videris platform turns open-source data into actionable intelligence for public sector law enforcement, financial services firms, and corporates. Covers economic crime, AML, sanctions, fraud, and supply chain due diligence. Tags: Enterprise SaaS, OSINT, GovTech ## Training — Vibe Coding Workshop A private, full-day session for business teams of 4–10 people. One fixed price: £8,500. Sessions are delivered on-site or remotely. The client provides the venue and refreshments for on-site bookings. Frank leads each session personally. Hotel and hospitality teams: a tailored hospitality-specific programme is available. **Format:** Full-day, on-site or remote **Group size:** 4–10 attendees Participants learn to build real tools relevant to their property — using AI as a creative and technical partner. The session is practical, not theoretical. ## The Principal **Frank Reeves** is the founder and principal of Voyria. He has spent 25+ years building, scaling, and exiting technology businesses in travel and hospitality. He co-founded Avvio in 2002, a hospitality SaaS platform that pioneered direct booking technology for hotels. In 2017, he launched allora.ai — an AI-driven personalisation engine for hospitality, developed ahead of mainstream AI adoption. Avvio was sold to SHR in 2022, later acquired by Access Group in 2024. Frank has worked with founders across travel, SaaS, and deep tech — as investor, NED, and advisor — through raises, restructures, and exits. Voyria was founded on the belief that capital and advice are not interchangeable — and that the right partner at the right moment changes the outcome. > "Capital isn't fungible. A pound from one investor is not the same as a pound from another — what comes with the money matters more than the money itself." > — Frank Reeves, Voyria ## Perspectives (Blog) ### Capital Isn't Fungible (February 2026) A founder's guide to choosing the right capital — not just the best terms. Frank Reeves reflects on two decades of financing experience, including a venture debt arrangement that nearly broke Avvio, and a subsequent relationship with Calculus Capital that carried the business through COVID and to a successful exit in 2022. The core argument: investors come with structural constraints — fund lifecycle, definition of success, behaviour under pressure — that shape every conversation for years. Capital isn't fungible. Choose accordingly. Read: https://voyria.com/blog/capital-isnt-fungible ### Reflecting on the Avvio Exit (May 2024) Lessons from navigating Avvio through its full lifecycle to a successful sale in 2022. Covers: when to sell vs raise further, what makes a business valuable to buyers (Rule of 40, TAM, competitive advantage), and how to choose the right M&A advisor. Read: https://voyria.com/blog/reflecting-on-avvio-exit