£100m East of England investment fund launched by Foresight Group

Foresight Group has launched the East of England private equity fund, which is aiming to invest up to £5 million into established companies with a view to assisting management with their growth ambitions.

It will invest across a broad range of sectors, across the full range of transaction types including buy-outs and equity release, always with the objective of supporting management with their growth ambitions for the business.

Cambridge Norwich Tech Corridor programme director Linn Clabburn welcomed the launch of the new fund.

She said: “This is excellent news for the region. East Anglia is home to an innovative and thriving tech community, but we know access to finance can be a challenge.

“A dedicated fund for the region can only help turn some of the ground-breaking ideas developed here into the businesses powering tomorrow’s economy.

“At the Tech Corridor we’re working hard to ensure our companies reach their full potential, which is why we’ve launched East of England Investment Catalyst, a programme which give some of our high-growth tech stars the opportunity to pitch to an audience of experienced investors at a special event in London.

“We’re delighted the team at Foresight Group have agreed to help mentor some of the shortlisted companies, and we look forward to working closely with them in the coming months.”

Cornerstoned by the Cambridgeshire Pension Fund, Foresight says the fund will target long term value growth for investors and provide a permanent pool of capital to fund businesses in the region and beyond. The company believes it breaks new ground as an evergreen pool of patient capital targeted at the small company private equity sector in the UK.

Russell Healey, partner and head of private equity at Foresight, said: “The East of England has a large number of companies in an exciting range of sectors including life sciences, technology, media and engineering, but it has traditionally attracted relatively low levels of private equity investment.

“We are delighted to be working with the Cambridgeshire Pension Fund to provide a permanent, patient pool of capital, which targets strong returns, and around which the regional business community can make long-term plans. We look forward to backing entrepreneurs in the region and working with them to grow their businesses.”

Foresight will be opening a new office in Cambridge as part of its commitment to the region.

Paul Tysoe, investment manager at the Cambridgeshire Pension Fund, added: “Foresight has an excellent track record of making private equity investments into small UK companies, and we are pleased to be working with them on the Foresight East of England Fund.

“The fund will target an established gap in the funding market, where we believe there is not only the opportunity to deliver attractive returns, but also to support growing companies in the East of England and beyond.”