Liverpool based River Capital has announced the launch of a new £10m Private Equity Fund, supported by a cornerstone investment from parent company MSIF.
The Fund provides investment from £500k up to £2m to support North West SMEs with support for acquisitions, management buy out/in, partial realisations and growth funding.
The launch of the fund is part of River Capital’s ongoing growth strategy and is the third new fund launched within the last 8 months following the announcements of its £8m Business Growth Loan Fund and the North’s first dedicated artificial intelligence fund, “fund:AI”, last November.
River Capital CEO Mark Borzomato said: “I am excited by the launch of our new private equity fund and the opportunities it presents. As with all River Capital’s funds, we are looking to back ambitious management teams. The new fund is focussed on providing and supporting such teams to acquire the business they work for or fuel its future growth plans be it by acquisition or organic expansion.
“There is significant evidence Private Equity backed businesses perform more strongly than others, but often the funds providing such support are focussed on larger transactions. We believe there is huge untapped potential in the North West at the sub-£2m investment level, or sub-£10m transaction level. At River we are hugely experienced in supporting businesses at this stage of their development, with a strong track record of success.”
The Fund will invest across a broad range of sectors and expects to announce the conclusion of its first deal imminently.