NorthEdge Capital has announced the close of NorthEdge Capital SME Fund I, LP (“SME Fund I”, “the Fund”) at its £120 million hard cap. The Fund was raised from existing investors and enables the firm to broaden its ability to take advantage of attractive investment opportunities in the U.K. regional lower mid-market.
The new Fund will target businesses across all industry sectors in the North of England and Midlands region, investing between £2-£10 million in growth and development capital, management buy-outs, equity release and buy-and-build opportunities.
NorthEdge Capital’s £315 million Fund II will continue to invest in opportunities requiring capital of £10-£45 million having invested over £150m in 11 companies since the first investment was made in June 2016.
Headquartered in Manchester with additional offices in Leeds and Birmingham, NorthEdge‘s 23 investment professionals can now provide equity financing of between £2-£45 million and has announced the appointments of a number of senior hires to support its investments.
Grant Berry, Managing Partner at NorthEdge Capital, said: “We are very pleased to have successfully raised SME Fund I and value the continued support of our existing investors. This Fund reflects our commitment to backing successful regional businesses and builds on our existing heritage whilst giving us much greater flexibility in terms of the businesses we are able to support.
“There is immense appetite for investment across the North and the Midlands and a plethora of talented management teams that have the potential to achieve their growth ambitions with our support. We look forward to capitalising on the new opportunities afforded to us through this Fund and are excited to work with SMEs to generate value for our investors.”
Houlihan Lokey acted as the exclusive placement agent for the fundraise.
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