South West Investment Group and partners launch South West Cleantech Co-investment Fund

22 July 2010

The South West Investment Group (SWIG) in the UK has launched a new investment fund for low carbon businesses, the South West Cleantech Co-investment Fund, which received £2.5m in initial capital from the South West Regional Development Agency (RDA).

The fund, to be administered by SWIG Capital with additional operational support from South West Angel and Investor Network (SWAIN) and Regen SW, is now open for business.

Attracting and identifying keystone investors, SWAIN will undertake the initial evaluation of businesses to ensure that they are attractive to investors and are ready for investment, and non-profit low carbon company Regen SW will regulate cleantech compliance.

It will provide between £50,000 and £100,000 of funding alongside new equity investments to cleantech businesses in the region, providing growth capital to support entrepreneurs and early-stage businesses that are looking to develop low carbon technologies and innovations.

The fund will only invest alongside private investors or small venture capital firms that have knowledge of the sector and experience in making business investments, said the group.

Stephen Peacock, the South West RDA’s executive director for enterprise and innovation, said, ‘This is a fantastic opportunity for the region’s low carbon industry to access a new source of funding. The fund will help businesses grow and invest for the future, creating hundreds of highly skilled jobs. This has come at exactly the right time for the region’s thriving environmental sector.’

Philip Tellwright, managing director of SWAIN, said, ‘SWAIN has already been successful in attracting private angel investment into almost 70 companies and the Cleantech Co-investment fund will help to leverage the overall investment and will inevitably attract further credible green investors.’

Regen SW is currently working with over 900 businesses, local authorities, the regional development agency and other partners on a range of projects to develop a low carbon economy in south-west England.

In November 2008, the South West RDA, within its ‘First Steps’ document, declared an aspiration to create a Green Opportunities Fund for the South West region. To deliver for the region on its promise, the South West RDA has provided capital for the South West Cleantech Co-investment Fund.

South West Investment Group provides a range of investment funds for start-up and growing small businesses in the south-west of England.

Copyright © 2010 NewNet

Tags: energy effiency

This story was published on Thursday, July 22nd, 2010 at 11:33 am and is filed under Europe, energy efficiency, funds. You can follow any responses to article entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

One Response to “South West Investment Group and partners launch South West Cleantech Co-investment Fund”

1. STEPHEN J LINE says:

   19 August 2010 at 5:24 pm

   We have a client seeking funds for a green energy generation project with the equipment and a customer about to place a contract to supply power to the grid.
   Pleas let us know whether you would consider investing in this project, for which we have a Business Plan available.

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