• Swindon & Wiltshire Support
• Wednesday November 20 2024
• Author Name: Peter Davison

£50 million private equity fund launched to support growing firms in South West

Private equity fund Foresight Group is to open an office in Bristol as it launches a £50 million fund to support growing firms in the South West.

The fund will target smaller equity investments in established, promising companies with growth potential across all sectors and transaction types – including buy-outs and equity release – in Bristol, Somerset and Wiltshire.

The fund – cornerstoned by Devon Pension Fund – is designed to be evergreen, providing a permanent pool of capital around which SMEs can make long term plans.

Devon County Councillor, James Morrish, chair of the council’s investment and pension fund committee, which oversees the administration of the Devon Pension Fund, said: “We are delighted that the Devon Pension Fund is investing in a fund that will support local businesses and providing local jobs, whilst still delivering the investment return we need to meet our liability to pay pensions.”

Matt Smith, partner at Foresight Group, said: “We are delighted to launch a fund dedicated to the South West of England with support from Devon Pension Fund.

“We look forward to embedding ourselves in the local community and supporting growing companies across the region.

“Our investment approach is to work collaboratively with entrepreneurs and the broader local business community. We look forward to providing further updates on this exciting fund.”

Foresight has a track record of supporting companies across the South West. Recently, Foresight invested £5 million into innovative children’s nursery and soft play provider, Family Adventures Group.

Since investment, Family Adventures Group has won multiple industry awards and is set to create a significant number of jobs as it plans to open multiple new sites.

Latest: South West SME investment fund doubles to £100 million