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:
- 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
- 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
- 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
- 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.