Cornwall & the isles of sicily investment fund (CIOSIF)

British Business Bank

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The Cornwall & Isles of Scilly Investment Fund (CIOSIF), provides commercially focussed finance through a Debt and Equity Fund.

Use: Go2Market;
Date closing: -
Amount: 25,000 £ - 2.0M £
Industry focus: All
Total budget: 40M £
Entity type: Public Agency
Vertical focus: All
Website: https://www.ciosif.co.uk/

Status:
Open
Funding type: Equity investment; Other;
Geographic focus:
Public/Private: Public
Stage focus: Seed; Series A; Series B; Series C;
Applicant target: Startup;

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Overview

The Cornwall and Isles of Scilly Investment Fund aims to transform the finance landscape for smaller businesses in the area and to realise the region’s potential to achieve economic growth through enterprise.

The Cornwall and Isles of Scilly Investment Fund is supported by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

It is a key part of the Government’s vision aimed at boosting the region’s economy and supporting the growth of smaller businesses (SMEs) between 2018 and 2023. The Government firmly believes that SMEs form the foundation of the region’s future growth. CIOSIF therefore aims to nurture regional entrepreneurship by providing investment and support for small businesses between 2018 and 2023. CIOSIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private-sector investment.

CIOSIF is a collaboration between the British Business Bank and the Cornwall & Isles of Scilly Local Enterprise Partnership The up to £40m Fund will support access to finance where barriers exist for SMEs and seek to address an equity gap in start-up, early stage and development capital.

The Cornwall & Isles of Scilly Investment Fund of approximately £40m is brought together by a combination of ERDF, LEP and HMG grant funding, creating a fund which will provide debt and equity for small businesses across the region.

The Fund will provide a mixture of debt and equity funding to SMEs in Cornwall and the Isles of Scilly at all stages of their development.

They offer two different types of funding: debt funding (from £25,000 - £1 million) and equity finance (£50,000 to £2 million).

Last updated on 2023-04-05 11:36