SJ Berwin’s fund formation team has advised Capital for Enterprise, the government’s equity gap fund manager, on the closing of the Capital for Enterprise Fund, the government initiativ
SJ Berwin’s fund formation team has advised Capital for Enterprise, the government’s equity gap fund manager, on the closing of the Capital for Enterprise Fund, the government initiative announced on 14 January.
SJ Berwin has been advising the UK government on public/private venture funds since 2004, including the Enterprise Capital Fund Scheme.
The Capital for Enterprise Fund is providing equity and quasi-equity investment of GBP200,000 to GBP2m for small and medium sized enterprises with a turnover of up to GBP50m who have viable business models and growth potential and are in need of long term capital. The Fund is investing GBP50m of government investment augmented by GBP25m from four UK high street banks.
SJ Berwin advised on the establishment of the fund and its investment in two bespoke sub funds managed by Aberdeen Asset Managers and Octopus Investments. The fund opened to investment propositions on 14 January.
Funds partner Simon Witney says: "We are very pleased to continue to work with Capital for Enterprise and to have advised on this unique project, which is a welcome development for viable UK businesses in need of liquidity".
The fund is managed by Capital for Enterprise Fund Managers, a wholly-owned subsidiary of Capital for Enterprise, an asset management business that designs, implements and manages finance measures to support small and medium size enterprises across the UK.
