CIOSIF – “Gasoline finance” for fast growing businesses based in Cornwall and Isles of Scilly

Featuring Richard Wadman | 5th October, 2018

On Tuesday morning, a fairly packed boardroom at our Truro office played host to a presentation from the Cornwall & Isles of Scilly Investment Fund. This presentation was part of a series of breakfast briefings organised by my colleague Andrew James.

The speakers from CIOSIF, Aaron Hamshire and Brent Treloar, talked us through CIOSIF from its origins and aim/ ambition; to the delivery partners and delivery mechanism. The slides from the self-styled ‘Ant and Dec’ of the funding world used can be found here.

The presentation was followed by an equally enthralling and informative Q&A.

Please check out the slides and further information on the CIOSIF website.

Among the things I picked up from the breakfast briefing to complement the material we have shared previously:

  1. I liked the description of both the debt and equity funding offered by CIOSIF as “gasoline finance” – designed to work for fast growing businesses needing an injection of capital to facilitate that growth
  2. In terms of a match for equity from CIOSIF, the fund is able to consider an equity raise from the crowd within the last 12 months
  3. The fund has almost completed its first equity deal (and whilst the competitive side of me is slightly disappointed) I have not been involved in this one – I have been involved in a number of firsts in the past andit will be interesting to learn more about this in due course in terms of deal structure and documentation
  4. A confirmation that no match is required for loan finance from CIOSIF

How we can help:

If you are interested in finding out some more, please my colleague Ed Marffy, or myself.

To anyone reading this that attended the event, please note that I had an incorrect date for Finance in Cornwall 2019 on the slides I presented (I know Andrew: you left me one thing to do and I messed it up!). The correct date is 25 June 2019.

Next up in the series of Andrew’s breakfast briefings is one focused on ‘accounts’ which I understand will cover: interpretation of accounts information, making the accounts work for you, cloud accounting, Key Performance Indicators (KPIs) and benchmarking – details will be available on our website soon.

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