For those engaged in assisting businesses with fundraising in the far South West, the Cornwall & Isles of Scilly Investment Fund (CIOSIF) has been talked about for so long, it had begun to take on mythical qualities – a mermaid of Zennor for our (financial) times.
But for a few weeks now, there have been rumours about an appointment of a fund manager and this week, we were emailed with details of the official launch and a couple of ‘regional briefings’ (see further below).
So, what do we know about CIOSIF advance of the launch?
From the information posted up with the invite to the launch and briefing events, we know that the Cornwall and Isles of Scilly Investment Fund:
- Is a £40m fund
- Will provide debt and equity finance from £25,000 up to £2m for growing small businesses across the region
- Has been established in partnership with the European Regional Development Fund (ERDF), Cornwall and Isles of Scilly LEP (CIOSLEP) and the UK Government
- “Will provide small and medium-sized businesses with increased flexibility in the types of funding available, as well as boosting investment levels in the region”
- “Aims to transform the finance landscape for smaller businesses in the area and to realise the region’s potential to achieve economic growth through enterprise”
The CIOSIF has been described as a “game changer” by (at least) one person engaged in the finance raising in the region…
There will be a website which will be live from 28 June 2018 and can be accessed here – www.ciosif.co.uk.
Launch and briefing events
The launch of CIOSIF takes place at St Mellion International Resort on Thursday 28 June 2018, 9.00am to 10.30am – to book a place follow this link.
This is followed by two regional briefings at which spaces can be booked here.
- The Eden Project (in The Gallery), PL24 2SQ, 28 June, 4.00pm – 6.00pm
- The Headland Hotel, Newquay, TR7 1EW, 29 June, 8.30am – 10.30am
My colleagues and I will be listening with interest at these events. We will blog with more details as we have them and we will be looking to engage with the CIOSIF as opportunities arise. In the interim, we hope to see you at one of the above events.