Whiterock has launched the biggest ever locally managed equity investment fund for Northern Ireland companies with a pot of £75m.
The new Growth Capital Fund will make investments of between £1m and £5m for minority shareholdings in growth and scaling companies. Whiterock has been operating for more than a decade, managing over £150m across four funds, lending over £120m to over 150 SMEs.
Its first equity fund includes an investment of £45m from British Business Bank through its Enterprise Capital Funds programme, with the remaining £30m from private investors.
Whiterock wants to invest in companies demonstrating clear sales growth in areas like digital, ICT, life and health sciences, agri-tech and advanced manufacturing. The fund expects to invest in 15 to 20 companies over five years.