Foresight welcomed guests from the regional SME business community at a reception in Nottingham Castle to mark the formal launch of the £40m Foresight Nottingham Fund.
On a cold November evening, Foresight Group welcomed 150 guests to a champagne reception in the Long Gallery of Nottingham Castle to celebrate the official launch of Foresight Nottingham Fund, the £40 million regional growth fund targeting SMEs in Nottingham and Nottinghamshire.
In attendance was the Minister for Cities & Minister of State at the Cabinet Office, the Rt Hon. Greg Clark MP, and Cllr. Nick McDonald, Portfolio holder for jobs and growth at Nottingham City Council alongside representatives from the City and County Councils, the two universities, the regional business and SME community including many organisations and institutions with a focus on supporting SMEs and growth companies within the region. Also in attendance were investors in the Fund including Professor Nat Puri, Hardev Singh, Ken Cooper from the British Business Bank and Trustees of the Nottingham Local Pension Scheme.
The Lord Lieutenant of Nottinghamshire, and Chairman of Experian had recorded a personal message in support which was played alongside speeches from Bernard Fairman, Chairman of Foresight Group, the Minister Greg Clark MP and Cllr. McDonald.
The reception coincided with the announcement of the Fund’s first investment, a £1.75m investment to support the senior management in their MBO of Positive Outcomes Ltd. Positive Outcomes is a work-based learning business, founded in Nottingham in 1997, providing apprenticeships to over 3,500 people of which more than 50% are based in East Midlands. It has a particular focus on the 16-18 age group with its innovative "Paid to Learn” scheme. A condition of the investment is that the company relocates its business back to Nottinghamshire, bringing over 100 new jobs to the area.
Institutions have until January 2014 to invest in the Foresight Nottingham Fund.
For more information contact Seb Saywood on +44 (0)115 727 0650.
Professor Nat Puri, Director of Purico and an
Sir John Peace delivers his pre-recorded message
Bernard Fairman delivers his speech.