Investment Fund for Northern Ireland reaches £100m milestone following 75 investments

The Investment Fund for Northern Ireland has marked a significant milestone, reaching more than £100m of total investment with 75 investments into 64 businesses. Since launching in November 2023, the £100 million fund has deployed more than £44 million, helping to facilitate in excess of £62million in private sector investment.

The milestone demonstrate the fund’s strong role in increasing the supply of finance available to ambitious Northern Ireland businesses, while leveraging significant additional private capital alongside public investment.

With the Investment Fund for Northern Ireland now approaching £50 million of its own investment deployed, businesses across a range of sectors have used funding from its debt and equity funds to develop new products, enter international markets, create jobs and accelerate their growth.

Whiterock provides debt finance through the fund, offering loans from £25,000 up to £2 million, while Clarendon Fund Managers provides equity investment in smaller businesses of up to £5million.

One business cultivating the benefits of equity investment is tree gifting company, The Present Tree.

Based in Crumlin, Co. Antrim, the business was founded in 2013 by Catherine Cunningham, who was inspired by her love of trees and nature to come up with a meaningful corporate and personal gifting service.

Catherine explained: “As soon as I met Matthew at Clarendon it felt like a true partnership, as Clarendon’s values are so aligned to ours at The Present Tree.

“Matthew took time to really understand the heart and soul of our business. I am absolutely delighted we found the perfect investors who share our vision.

“We raised £1.8 million which means we can build our dream headquarters - somewhere with the capacity to allow our trees and our team to flourish. We are expanding our senior team and focussing on our corporate gifting.”

The business has enjoyed considerable growth reaching a multi-million-pound turnover and dealing with more than 10,000 orders per week.

With the new finance, The Present Tree is determined to take root as one of the leading garden gifting companies in the UK and Ireland as well as branching out into Europe.

Catherine said: “To have investors who believe in The Present Tree is really special and Clarendon are incredibly supportive; they have trusted us to make good use of the finance from the Investment Fund for Northern Ireland, which means so much to us.”

Sue Barnard, Senior Investment Manager at the British Business Bank, said the progress of the Investment Fund for Northern Ireland demonstrates the appetite among businesses for finance that can support their growth ambitions.

She said: “At the British Business Bank, we know Northern Ireland has a tremendous entrepreneurial spirit and some brilliant businesses which deserve to reach their true potential.

“Reaching 75 investments and more than £100 million of total investment is a significant achievement, particularly given the additional private capital that has been brought into these businesses alongside IFNI funding. It is also pleasing to see that deals have taken place right across Northern Ireland and not just confined to Belfast and other larger centres.

“Companies such as The Present Tree show the potential of Northern Ireland’s smaller business community. Their ambition to expand into new markets and build a world-leading business from Crumlin is exactly the kind of growth that the fund was established to support.”

The Investment Fund for Northern Ireland is one of six Nations and Regions Investment Funds across the UK run by the British Business Bank.

The purpose of the Investment Fund for Northern Ireland is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across Northern Ireland, with an inclusive approach to all eligible sectors.

To find out more about the Investment Fund for Northern Ireland visit investmentfundnorthernireland.co.uk.