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CEF completed investment in TransGlobal Payment Solutions Limited

The Coalfields Enterprise Fund has provided investment to the company as part of a £1 million funding round to provide development and working capital

CEF completes further investment in CoreRFID Limited

The Coalfields Enterprise Fund, established to support SMEs in the former English coalfield regions, has completed a further investment in CoreRFID Limited

CEF provides further funding to Caspian Learning Limited

The Coalfields Enterprise Fund has completed a further investment in North East-based Caspian Learning Limited as part of a £1.5 million funding round

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Coalfields Enterprise Fund open for business and accepting applications for finance

14/07/2004

The new £10 million Coalfields Enterprise Fund is now open for business. The Fund, which was launched by John Prescott, the Deputy Prime Minster at the Coalfields Regeneration Trust Conference in March, specifically offers finance to growth-orientated companies and encourages entrepreneurship in England’s former coalfield areas. These areas were previously very reliant upon the economic benefits of coalmining and the new Fund is dedicated solely to these areas and aims to encourage companies and individuals to diversify into new high growth activities.

The Fund provides risk finance in the range £40,000 to £500,000, in the form of equity, with preference share capital and loans, and follow-on finance is available. Investment by the Fund may be up to 50% of the total funding package.

Companies must be able to demonstrate growth and viability, and offer the Coalfield Enterprise Fund a commercial return on its investments. The Fund is flexible in its approach to investment as companies at all stages in their development are eligible for investment, from new starts to early stage to ongoing development through to buy-outs & buy-ins.

The Fund is managed by Enterprise Ventures Limited through a network of regional Investment Managers in the coalfields areas.

Companies operating in the former coalfield wards, or employing a proportion of its workforce from a coalfield ward, in the North West & North East of England, Yorkshire, Cumbria, Derbyshire, Leicestershire, Warwickshire, Staffordshire, Kent and the Forest of Dean, may apply to Enterprise Ventures. The Fund is able to invest in most industrial sectors although there are some exclusions.

Executive Chairman of Enterprise Ventures, Richard Bamford, says, “The Fund will be very active in England’s former Coalfield areas and undertake a large number of investments in small and medium sized companies over the next five years. The Fund is flexible in its approach to investment and offers much more than just finance. In addition, it provides support and guidance in assisting companies with their strategic, market and operational development and generally in achieving their potential.”