Investment management firm Ravenscroft, which is backed by Hargreaves Lansdown co-founder Stephen Lansdown, has launched a Guernsey-focused closed-ended collective investment scheme.
The Guernsey Investment Fund will offer investment to innovators and entrepreneurial companies in Guernsey.
It will invest in projects and businesses which have a Bailiwick of Guernsey focus, or which may benefit directly or indirectly the development of the Bailiwick, the company said.
States of Guernsey has committed to invest up to £25m in the fund, which seek to deliver long-term capital growth to its shareholders.
To be managed by Ravenscroft, the fund may be made up of a number of protected cells, with the technology and innovation cell being the first to launch. Property and infrastructure cells are being considered for the future.
“The intention is that each cell will be fully invested within five years with an intended realisation within 10 years,” the company said.
Ravenscroft group CEO Jon Ravenscroft said: “The idea of the Guernsey Investment Fund came about through discussions between the States of Guernsey and Ravenscroft. The launch is the result of months of hard work by a whole team who share a passion for Guernsey’s future prosperity.
“Ravenscroft has proven expertise and experience in investing in local business. We are incredibly proud to have played an important role in the success of many well-known Channel Islands’ companies and want to use that knowledge to help nurture new and growing businesses.”
The company has formed an independent board has been appointed to have overall responsibility for the management of the Guernsey Investment Fund.