Clarendon leads new £50m fund
Managers have been appointed to a new £50m fund to generate investment into ambitious Northern Ireland companies.
Clarendon Fund Managers Ltd has been appointed to run the second phase of Co-Fund NI, aimed to stimulating more private investment in NI companies that demonstrate high-growth potential and have innovative and export focused products.
William McCulla, Invest NI's director of corporate finance, said: "Co-Fund NI builds on the success of its predecessor, which invested over £12m in 37 high-growth Northern Ireland companies, alongside £20m from private investors."
He said success stories which have already benefited from Co-Fund NI included medical imaging firm Cirdan Imaging, online repair service MyCarNeedsA.com and Sisaf. Sisaf's patented drug delivery platform had helped it raise $5m from US and Singapore-based investors, Mr McCulla said.