£30m boost for SMEs
Two new equity funds with £30m from Invest NI in their coffers have been unveiled by the agency today as part of its access to finance portfolio.
Crescent III and Bank of Ireland Kernel Capital Growth Fund were set up to help small to medium-sized firms speed growth plans.
Invest NI said it had ploughed £15m in to each fund, though together they have the potential to invest over £48m in businesses over the next five years.
Enterprise Minister Arlene Foster said: "These funds are part of a major access to finance initiative established by Invest NI to help to boost private sector growth, ensuring companies with high growth potential are not held back."
Ian Coulter, chairman of the CBI in Northern Ireland, welcomed the news: "In the context of a heavily constrained finance market, this is most welcome."