Clarendon Fund Managers

Clarendon Fund Managers manages £58.5m of regional VC Funds in Northern Ireland including the £47.3m Co-Investment Fund. They have invested in over 80 companies since we began investing in 2001.

They have three funds: Co-Fund NI programme, Viridian Growth Fund, Nitech Growth Fund.

As part of the Access to Finance Strategy, Invest Northern Ireland has appointed Clarendon Fund Managers (‘CFM’) to manage Co-Fund NI. The aim of the Fund is to ensure that businesses with growth aspirations can access equity finance to reach their potential.

The Co-Fund NI programme makes available £47.3 million to invest alongside private investors such as business angels or business angel syndicates (hereafter referred to as ‘private investors’ or ‘syndicates’) into eligible SME’s based in Northern Ireland. When matched 35% with 65% private investors on a deal-by-deal basis this will give an overall ‘fund’ size of £136.3 million.

This initiative is provided by Invest Northern Ireland and part-financed by the European Regional Development Fund under the Invest for Growth and Jobs Programme 2014-2020.

Viridian Growth Fund, L.P. specializes in equity and debt investments. The fund prefers to invest in information technology, manufacturing, and tradable services sectors. It seeks to invest in small and medium enterprises based in Northern Ireland. The fund typically invests between £50,000  and £250,000  and can provide follow on finance of up to £350,000  in later rounds. It prefers to take a board seat in its portfolio companies. The fund will acquire a minority shareholding in the business in return for a cash investment. It seeks to exit its investments between five and seven years. Viridian Growth Fund is no longer making new investments.

The £3m Nitech Growth Fund is a venture capital fund established by Invest NI to finance the commercialisation of technology within start-ups or existing businesses. The fund is aimed at the creation and expansion of research-led, market-orientated businesses. The key objective of the Nitech fund is to encourage and support the R&D activities of eligible companies and enable them to develop products or services which meet identifiable market needs. If you are a high-growth potential businesses you will be able to access funding for projects that entail significant risks and which may not be able to attract alternative forms of finance. Nitech provides you with a combination of financial assistance and specialist advice. Staged investments ranging between £20,000 and £200,000, with a maximum total investment of £250,000 being provided to one business are available.

Portfolio: 3deo, Angoka, Cadshare, Ciga.