Co-Fund NI
Summary:
The Co-Fund NI is a £47.3 million fund for SMEs based in Northern Ireland.
Eligibility criteria:
- Must be SME with operations substantially based in Northern Ireland
- Must not be in a prohibited EU sector (e.g. defence, tobacco, gambling) and generally be in manufacturing or tradable services (export-focused)
- Must have an identified funding gap in a proposed investment (companies must have tried and been unable to raise all required funding from private sources)
- Funding is subject to ‘State Aid’ and therefore investment cannot breach State Aid Block exemption (must take account of other ‘State Aid’ receipts or offers such as grants)
- Where the investment is being led by business angels, there must be a minimum of three participating in the investment round
Additional information:
The fund is not open to direct approaches from individual businesses. Those seeking investment should first secure the interest of private investors. However the fund does work with existing private investors and businesses where a substantial proportion of the required private sources of funding are in place, and they are working towards setting investment terms and filling out a round.
Support organisation:
- Clarendon Fund Managers
Phone:
028 9032 6465
Email:
info@clarendon-fm.co.uk
Find out more:
Co-Fund NI
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