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Octopus appointed to manage Government-backed Enterprise fund
20/04/2009
Octopus Investments is delighted to announce its appointment by the Government-backed Capital for Enterprise Fund Managers Limited (CfEFM) to manage the Octopus Capital for Enterprise Fund (OCFE). The Capital for Enterprise (CfE) fund is one of the measures introduced by the Government to bridge the current funding gap that many UK SMEs are experiencing as a result of the credit crisis.
In total, £75 million has been committed to the CfE fund, of which £60 million has been allocated to just two Fund Managers, Octopus and Aberdeen Asset Managers. Each will oversee the management of a £30 million fund, with Octopus responsible for applications made by businesses based in the Southern part of the UK, including London, the South East, the South West, East Anglia, the West Midlands and Wales. Aberdeen will be responsible for the other UK regions.
This is a very positive endorsement of our credentials as a leading Small & Medium Enterprise (SME) investor in the UK. These are extremely important funds given the Government's efforts to reignite the UK economy and support SMEs, and the level of due diligence undertaken by CfEFM should give all Octopus investors great confidence in our expertise, reliability and ability to manage their money.
More information is available here, and applications for investment can be made by clicking here.
Submitted by Sarah Crennell