Invest NI appoints managers for new fund

Posted on 11 Dec 2017 and read 586 times
Invest NI appoints managers for new fundInvest Northern Ireland (www.investni.com) has announced the appointment of managers for a new £50 million fund that will generate investment in high-potential Northern Ireland companies.

Clarendon Fund Managers (CFM) (www.clarendon-fm.co.uk) has been appointed to manage Co-Fund NI II, which aims to stimulate more private investment in companies that have innovative and export-focused products.

William McCulla, Invest Northern Ireland’s director of corporate finance, said: “Co-Fund NI builds on the success of its predecessor, which invested over £12 million in 37 high-growth Northern Ireland companies, alongside £20 million from private investors.

"The fund remains a key component of our wider Access to Finance strategy, with the objective of stimulating investment activity in SMEs across Northern Ireland.”

Neil Simms at CFM said: “We are delighted to have been appointed to manage the new £50 million Co-Fund.

“Our experience of managing its predecessor showed us that business angels — and indeed other sourcesof 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.

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