NY pensioners, EU banks and Naughton back city business
Investment Minister Arlene Foster revealed the New York State Pension Fund, the European Investment Fund and Martin Naughton were three private investors from outside Northern Ireland who have contributed to the Crescent Capital investment fund since May 2005.
It’s the second incarnation of Crescent Capital - a Belfast based venture capital fund manager - which says that its primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences and manufacturing sectors.
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Hide AdIts first fund commenced in 1995 but it’s under Crescent Capital II that New York, Europe and Mr Naughton have come on board.
According to Mrs Foster: “Crescent Capital II LP was established as a £22.5 million fund under a 10 year limited partnership agreement, with the option to extend the fund by two years.”
Crescent holds a list of investments in its portfolio - mostly in the Belfast area - but it has also invested in Biznet Solutions, which has a presence in Londonderry.