Capital for Enterprise Ltd (CfEL) has awarded two new Enterprise Capital Fund (ECF) mandates to Panoramic Growth Equity and Beringea, marking a major advance in activity for the government backed fund. The funds are now raising private capital with a target of reaching £32.5m and £30m respectively in the coming months.
The ECF programme was launched in 2006 and now comprises a portfolio of 8 active funds with £215m with which to make investments. £142m of the £215m has been provided by the Government with a further £73m from private investors. To date £40m has been invested through the funds in 45 growing UK businesses.
Edinburgh based Panoramic Growth Equity will look to make investments throughout the UK in businesses with established cash flows which can demonstrate strong growth prospects. They will also look to support earlier stage investments where the management team have a strong track record of prior success. The fund is broadly generalist but with a specific focus on the Energy, Water, Healthcare, Media, Business Services and Communications sectors.
London based Beringea’s new ECF Beringea Digital Ventures will look to make investments in the digital media arena, supporting businesses through the inflexion point to bring products to wider national and global markets. The company will use their strong network within media and technology in the UK and US to assist their portfolio businesses in developing to fulfil their potential.
The ECF programme continues to look at new teams and funds in order to provide investment for strong businesses across the UK. Potential managers wishing to secure an ECF mandate are advised to make contact with the selection team in CfEL prior to submitting a proposal.
Commenting on these new ECFs, Ken Cooper, MD Equity for CfEL, said:
“The ECF fund is a major part of Capital for Enterprise’s expanding portfolio. Our imperative is to help grow viable businesses in the SME sector and bringing Panoramic and Beringea on board will strengthen our ability to invest in the sector even further.”