Foresight Group wins Funder of the Year at East Midlands Dealmakers

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Foresight Group LLP (“Foresight”), a leading independent infrastructure and private equity investment manager, has won this high-profile award in recognition for its support for businesses in the East Midlands.

Foresight, which has offices in Nottingham, Milton Keynes and Leicester, was named Funder of the Year at Insider Magazine’s prestigious East Midlands Dealmakers awards – the largest corporate finance event in the region.

At the event at the Nottingham Belfry, which was hosted by media personality Gethin Jones, the Dealmakers judges said Foresight had shown a "strong appetite for exciting businesses", with standout deals including investments in Accrosoft, Alpkit and The Children's Furniture Company.

In the East Midlands, Foresight manages two regional funds aimed at supporting the growth of dynamic SMEs; the £39m Foresight Nottingham Fund (which is fully deployed) and the £37.5m Midlands Engine Investment Fund (MEIF).

Mike Quinn, Director at Foresight’s Nottingham office said: “We are thrilled to receive this recognition for the work we are doing to support business growth in the East Midlands. During the 12 months under review we invested close to £26m and completed 17 qualifying deals, which is testament to a great team effort and our growing regional footprint.

The East Midlands is home to some fantastic small businesses and we look forward to continuing to work with the dynamic entrepreneurs driving the regional economy forward in the future.”

So far Foresight has backed 11 business through the MEIF, including: Navitas, Idle Man, Equus, Swoopos, Postworks, Footfalls, The Children’s Furniture Company, Firetree, YPP, Usheru and Ekkosense, with a number of further deals in the pipeline.

ENDS

For more information contact: Ben Thompson, Group Marketing Director Foresight bthompson@foresightgroup.eu/020 3667 8155

Notes to Editors:

About Foresight Group LLP ("Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has some £2.9 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).

Foresight’s Private Equity team, comprising 24 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.

Foresight was voted ‘Best VCT Investment Manager’ at the 2017 Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards and was a shortlisted finalist for Venture and Growth Capital House of the Year at the 2018 Unquote British Private Equity Awards. Foresight was recently named ‘Fund Manager of the Year’ at the PLC Awards.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Rome, Madrid, Seoul and Sydney.
www.foresightgroup.eu

About the Midlands Engine Investment Fund (MEIF)


The Midlands Engine Investment Fund, supported by the European Regional Development Fund, will invest in Debt Finance, Small Business Loans, Proof-of-Concept and Equity Finance funds, and provide funding to SMEs from £25,000 to £2m, so that can finance their growth and development.

The MEIF is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.

The MEIF is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.

The MEIF covers the following LEP areas: Black Country, Coventry & Warwickshire, Greater Birmingham & Solihull, Stoke-on-Trent and Staffordshire, The Marches, and Worcestershire in the West Midlands; and Derby, Derbyshire, Nottingham & Nottinghamshire (D2N2) Greater Lincolnshire, Leicester and Leicestershire, and South-East Midlands in the East and South-East Midlands.

The project is receiving up to £78,550,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit www.gov.uk/european-growth-funding.

The European Investment Bank is providing £122,500,000 to support the MEIF www.eib.org

The funds in which MEIF invests are open to businesses with material operations, or planning to open material operations, in, the West Midlands and East & South-East Midlands.

The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at www.thebusinessfinanceguide.co.uk/bbb

About the British Business Bank


The British Business Bank is the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. Our remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank is currently supporting more than £5.5bn of finance to over 78,000 smaller businesses (as at end of June 2018).

As well as increasing both supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of the finance options available to smaller businesses:

  • The Business Finance Guide (published in partnership with the ICAEW and a further 21 business and finance organisations) impartially sets out the range of finance options available to businesses at all stages – from start-ups to SMEs and growing mid-sized companies. Businesses can take the interactive journey at www.thebusinessfinanceguide.co.uk/bbb.
  • The new British Business Bank Finance Hub provides everything high-growth businesses need to know about their finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success. The new site also features case studies and learnings from real businesses to guide businesses through the process of applying for growth finance.

British Business Bank plc is a limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. As the holding company of the group operating under the trading name of British Business Bank, it is a development bank wholly owned by HM Government which is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). The British Business Bank operates under its own brand name through a number of subsidiaries, one of which is authorised and regulated by the FCA.

British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.