Management team appointed for £50m SME investment fund
A MANAGEMENT team has been appointed for a new £50 million fund designed to stimulate private investment in Northern Ireland companies.
Clarendon Fund Managers Limited (CFM) has been appointed to manage the Co-Fund NI II, which will generate investment in local companies that demonstrate high growth potential and have innovative and export focused products.
The first Co-Fund, also managed by CFM, invested over £12 million in 37 Northern Ireland companies, alongside £20 million from private investors.
Co-Fund NI invests with private investors such as business angels or their syndicates into eligible SMEs based in Northern Ireland, and provides up to 50 per cent of equity investment alongside 50 per cent from private investors on a deal-by-deal basis.
Neil Simms at CFM said: "Our experience of managing its predecessor showed us that business angels, and indeed other sources of private investment, are playing an increasingly important role in the development of young high potential companies that are seeking equity finance to pursue growth in export markets."