SJ Berwin and Macfarlanes advise on £200m technology fund
SJ Berwin and Macfarlanes have advised on the creation of a £200m investment fund aimed at boosting the innovation technology sector in the UK. The creation of the Future Technologies Fund saw the Government and the European Investment Fund each put in £100m, with the commitment announced last month (22 February).
March 05, 2010 at 09:16 AM
2 minute read
SJ Berwin and Macfarlanes have advised on the creation of a £200m investment fund aimed at boosting the innovation technology sector in the UK.
The creation of the Future Technologies Fund saw the Government and the European Investment Fund each put in £100m, with the commitment announced last month (22 February).
SJ Berwin advised the Government's delivery agency Capital For Enterprise, with a team led by London-based private equity partner Simon Witney and also including regulatory partner Tamasin Little and tax partner Dominic Adams.
The European Investment Fund instructed Macfarlanes on the deal, with the team led by City funds partner Stephen Robinson.
The venture falls under the UK Innovation Investment Fund (UKIIF) scheme which now has total funds of £325m after the Government and the BT Pensions Scheme invested £125m in January.
That other part of the fund is aimed at cleantech industries and is managed by Hermes Private Equity. The January investment saw SJ Berwin advise Capital For Enterprise while US firm O'Melveny & Myers advised Hermes.
Witney commented: "SJ Berwin has been advising the Government on its fund initiatives for several years. This particular initiative came from the Government's desire to fuel innovation in the UK economy. The fund is a major part of its strategy to help innovative companies to secure funding, and will boost investment in the venture capital sector generally."
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