New Positions Created To Support Fund Launch

New Positions Created To Support Fund Launch

Andrew Kelly Corporate

Belfast-based Clarendon Fund Managers has expanded its team to support the extension of Co-Fund NI with Co-Fund NI II.

In the last six months Clarendon has appointed Chris Trotter and Stuart Gaffikin to the roles of Investment Manager and Claudine Owens as Portfolio Manager.

Set up in 2001, the company currently manages Co-Fund NI (I and II) with over £80m of targeted investment, as well as the HBAN Business Angel programme in Northern Ireland. Clarendon Fund Managers has a wide range of portfolio companies having made investments in 57 high growth companies over the last eight years including Boatyard Distillery, drug delivery platform company Sisaf and more recently innovative haircare product company We are Paradoxx.

Neil Simms, Director at Clarendon Fund Managers, said: “Over the last six months Co-Fund NI II has seen a significant acceleration in activity having invested £2.3m, including seven new investee companies, leveraging total funding of £9.9m mainly from Business Angels, as well as investing in Diaceutics ahead of its IPO listing which raised  £17m of funding.

“The demand for growth equity funding remains strong, despite firms facing ongoing political and economic uncertainty, with a healthy pipeline of enquires from companies looking to grow their business in 2019.

He added: “Our three new team members bring a wealth of experience from various backgrounds, including corporate finance, business banking, international industry experience (including the US, Middle East and Australasia) and software development, and I’m delighted to further strengthen our team’s credentials.”

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