Anvil Partners were founder investors of Phynova in July 2002 and have acted as the company's corporate finance advisers since incorporation.

Phynova raised a total of £1.7 million from Business Angels in four rounds.

In February 2006, Phynova raised £3.7 million from high net worth individuals in a Pre-IPO round and was Admitted to trading on AIM.

The route to AIM Admission was novel in that the funds were raised from private investors and held in escrow pending the AIM Admission.