Growth Loan Fund (£50m)
(DEBT/MEZZ)
Development Fund I (£30m)
(EQUITY) Small
Business
Loan Fund
(£5m) (DEBT )
Co-
Fund NI (£16m)
(EQUITY)
Development Fund II (£30m)
(EQUITY)
NISPO Funds(£12m)
(EQUITY)
Deal size Up to £250k £500k £2m
Provides Risk Capital funding continuum - from startup to development capital up to £2m:
 ‘Enterprise Escalator’ - £12m NISPO funds (EQUITY) for seed and early stage LIVE
 £16m Co-investment fund (EQUITY) – based on Scottish model LIVE
 £50m Growth Loan fund (DEBT/MEZZ) initiative LIVE
 £5m Small Business Loan Fund initiative (DEBT) LIVE
 £60m (2 Funds of £30m) Development Funds (EQUITY) – up to £2m deal size – recognised equity gap in UK
–
OUT TO TENDER

NISPO Funds – offering an ENTERPRISE ESCALATOR and managed by E-Synergy
• £10 million Invest NI investment
£5 million equity – Invest Growth Fund – early stage, £50k to £250k, 5 years investment period – private sector contributes 30% in any funding round
£2 million equity - £1 million each for QUB and UU – seed, up to £200k investment over a 4 years investment period
£3 million Proof of Concept grants, non university sector and complements university
Proof of Concept scheme
• Investment Readiness and Showcasing events
• Currently seek an extension to Invest Growth Fund and Proof of Concept

• To meet the gap in VC funding continuum between NISPO and Crescent II –funded by Invest NI; based on the Scottish Enterprise model.
• Aims to co-invest alongside business angels and other private investors – encourage
Halo development and accelerate development of syndication. Angels / private investors lead the deal and set the terms; must demonstrate a identifiable funding gap of no more than 45%.
• Co-investment not exclusive to business angels but the primary target
• Average deal size between £250,000 and £450,000, although scope to go higher
• £7.2 million for investment from Invest NI, over 6 years, average 8 deals per annum, average deal coinvestment £150k alongside c£200k of private investment.
• Clarendon Fund Managers have the contract – for services, not fund management.
12 deals completed to date and pipeline healthy.

• Minimum loan size of £50k with an estimated 50-60 loans per annum; typically unsecured loans - interest rates typically 8.5% to 12% with an additional profit share
• Target loan size of £50k-£500k to support SMEs with growth potential
•
Proposed as a 10 year project with lending over the first five years and realisation over next five years to complete collection
• £50m funding is in place - £25m from Invest NI and £25m from the private sector.
•
Whiterock Capital Partners - a consortium led by Braveheart Investment Group are managing this Fund.
•
Operational from June 2012. The first loans have been made and the pipeline is healthy.

• Aim to provide loans of between £1,000 and £50,000 on a typically unsecured basis, at 8%-16% interest rates
• At the bottom end (up to c£25k) this is largely a social initiative – will include start-ups and social enterprises
• Some economic impacts anticipated above c£25k
• Ulster Community Investment Plc (“UCI”) has been appointed to manage this fund
• Launched Feb 2013

• Fund model approach – limited partnership with 10 year term – 5 year investment period. Aiming to do deals in 20 companies.
• Completes the dealflow chain given the equity gap in venture capital.
• Deal size £450k to £2million.
• Two funds of c. £30m each.
• Fund Managers will be required to raise private capital alongside the proposed £15m commitment being made by Invest NI.
• Tender for fund management now issued – closing date mid March 2013.

•
Provides an overarching strategy for Venture Capital and Loan Funds
• Provides a continuum of funding (£1k-£2m) for early stage and growth companies
Further details of funds available at: http://www.boostingbusinessni.com/jobs/access-to-finance/
Contact Details for Invest NI Corporate Finance team:
William McCulla (Director, Corporate Finance) – 02890 698697
Helen Kirkpatrick – 02890 698674
Allen Martin – 02890 698691
Sinead Magee – 02890 698678
Gillian McKenna – 02890 698677