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Private equity and infrastructure investment manager Foresight Group has launched a £10 million fund focused on investing in small and medium-sized companies in Northern Ireland.
Supported by the British Business Bank, it will target small debt and equity investments in established companies with, crucially, growth potential. Investments won’t be limited to sectors or deal types and may be carried out via co-investments with other Foresight managed funds which already operate in Northern Ireland, the firm said.
Foresight is no stranger to investment here, with its private equity division funding £30 million over the last number of years to companies such as Kingsbridge, Hospital Services Limited and RGM Vent. Through those investments, it said more than 600 jobs have been created.
“We have been operating in the Northern Irish market for more than 10 years,” James Livingston, Partner at Foresight Group, said. “This fund will increase the volume of Northern Irish SMEs we can support.
“We look forward to enabling promising companies across Northern Ireland to thrive, positively impact their local areas, and create high-quality, local jobs.”
This Fund is Foresight’s fourteenth regional fund – part of a strategy aimed at investing in local economies across the UK and Ireland.
“British Business Investments is committed to improving choice and diversity of funding options for UK smaller businesses seeking to grow,” Adam Kelly, Managing Director at British Business Investments, said. “By investing in Foresight’s latest fund, we can help smaller businesses across Northern Ireland to access capital and achieve their growth ambitions.’’
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