Causeway Capital has launched the Causeway Capital Partners I, a new EUR60 million private equity fund which will support growing small and medium sized enterprises (SMEs) based in Ireland and the UK.
The fund will invest in growth equity and buyout transactions of companies initially requiring up to EUR10 million of equity capital.
Causeway Capital has secured cornerstone investments in the Fund from the Ireland Strategic Investment Fund (ISIF) and AIB (through Allied Irish Banks (Holdings and Investments) Limited), together with funding from a number of private investors. The Fund will remain open to subscriptions from additional investors up to a ‘hard cap’ of EUR60 million.
Causeway Capital was founded in 2015 with the objective of providing straightforward funding solutions and strategic support to the management of established SMEs. The Fund will provide investments of up to EUR10 million to Irish SMEs with strong growth prospects as well as overseas companies with the potential for growth in Ireland. It operates from offices in Dublin and London and has plans to expand its team in both locations.
The founders of Causeway Capital, David Raethorne and Matt Scaife, were previously involved with a number of successful SMEs, including Helix Health and Smiles Dental. Causeway Capital has completed two significant investments in growing Irish SMEs, bb’s Coffee and Muffins (March 2015) and Bizimply (April 2016).
