A small-cap success story in a billion-dollar market

City investors often say that the reason they do not invest in small companies is that they simply cannot buy a sufficient amount of shares. They say that they need to be able to buy enough to justify the work of assessing the company in the first place and monitoring it thereafter. And they need to hold enough shares to make a real difference to the performance of their multi-million pound investment portfolios. That's fair enough. But the irony is that these big investors then buy the shares later on when the company has grown larger, and they miss out on the early years of its growth.