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Guernsey Investment Fund – an introduction

Found in: Blog  -  

Author: Robbie Le Messurier, Operations Executive

The Guernsey Investment Fund PCC Limited was launched in 2018 with the aim of achieving long-term capital growth through investments which have a Bailiwick of Guernsey focus or which may benefit, directly or indirectly, the development of the Bailiwick.

The launch is yet another reason for businesses to consider relocating or launching in Guernsey; the island is an appealing location for business and continues to attract entrepreneurs and tech businesses.

Supporting the Bailiwick

The multi-million pound fund is focused on investing in businesses that the Board and the Investment Manager believe will increase in value and which may also have the potential to positively impact on the Bailiwick’s economy, improve employment opportunities and attract investments into the Bailiwick.

Harnessing technology and innovation

The fund may comprise several protected cells, with the GIF Technology & Innovation Cell being the first to launch. It is intended that this first cell will prove lucrative through its investment in a portfolio of technology and innovative companies which could create new or disrupt existing industries.

Guernsey is well-placed to support tech initiatives; not only is it a hub for fintech but also boasts the Digital Greenhouse, a dedicated space to accelerate growth in the digital and creative sectors.

Developing property in Guernsey

Key players

The States of Guernsey has underpinned its commitment to supporting and facilitating innovation by committing to invest up to £25m into the technology and innovation cell, which aims to deliver long-term capital growth to its shareholders through investment in technology and innovative companies that are based in Guernsey, or otherwise have interests in the Bailiwick with the potential for further direct or indirect investment opportunities and benefits to the Bailiwick, or where there may be the potential for a future positive impact on, or benefit to, the Bailiwick’s economy.

Leading Channel Islands’ investment fund manager Ravenscroft has been appointed as the investment manager and has already received a number of enquiries relating to potential investment opportunities. An independent board of directors has been appointed to have responsibility for the fund, each cell and its respective portfolio.

Enabling opportunities

Hailed as an ‘economic enabler’ and a significant milestone for Guernsey’s economy, the Guernsey Investment Fund offers exciting opportunities for entrepreneurs and tech innovators who are looking to make Guernsey their new home, or have an economic connection to the island.

If you’d like to learn more about how easy it is to do business in Guernsey, get in touch with the team at Locate Guernsey, we’d be happy to help.

The fund’s objective is to achieve long-term capital growth through investments which have a Bailiwick of Guernsey focus or which may benefit, directly or indirectly, the development of the Bailiwick.

Doing business in Guernsey – key advantages

Guernsey provides a supportive environment in which businesses can flourish:

• A Companies (Guernsey) Law was established in 2008 which is regularly revised to ensure it stays relevant to the current business world;

• A Company Registry was launched incorporating an online service to provide users with incorporations in 15 minutes and prices starting from £100.00;

• As a stable and established jurisdiction, Guernsey has forged a reputation as a leading international finance centre, providing a spectrum of products and services to global clients at the highest standards;

• Open market and employment permit legislation makes it easy to relocate;

• The scope and scale of business in Guernsey facilitates networking with the government, regulators and other companies to maximise new opportunities.

What you need to know – the application process

The Guernsey Investment Fund is an equity, rather than loan, model so any investment will be equal to a stake in the business;

Each application will be considered by professional investment managers on a case-by-case basis;

The risks of any pitch will be rigorously assessed and extensive background research will be undertaken;

The fund’s investment managers will need to recommend the investment proposal to the independent board of directors, who will have the final say as to whether or not to proceed with an investment.

Who’s who

States of Guernsey

The States of Guernsey is the parliament for the Bailiwick of Guernsey and has committed to invest up to £25m. into the Technology & Innovation Cell.

Ravenscroft

Ravenscroft is the fund’s appointed investment manager.

A leading, independently-owned investment services and fund manager based in the Channel Islands, Ravenscroft has £3 billion of assets under administration for both private and institutional clients.

MXC

MXC Advisory Limited is a subsidiary of MXC Capital Limited, a specialist investment and advisory company with a track record of investing in and advising companies in the tech, media and telecomms sector. MXC acts as a consultant to Ravenscroft in relation to sourcing and managing investments for the technology and innovation cell.

MXC Guernsey Limited, also a subsidiary of MXC Capital Limited, has committed to invest up to £5m. in the cell.

The Board

The independent board of directors has been appointed to have overall responsibility for the fund, each cell and its respective portfolio. The board comprises; chairman Gilbert Chalk, who has extensive experience of chairing boards in this field, John Hollis, a non-States member of the former Treasury & Resources Board and the current States Trading Supervisory Board, and Mel Carvill, a director of a number of global financial services companies.

Businesses interested in securing funding in return for a stake in their business can contact Ravenscroft by emailing gif@ravenscroftgroup.com

If you have a specific question about doing business here in Guernsey, contact the team at Locate Guernsey, we’d love to hear from you.

Any investment opportunity for the GIF Technology & Innovation Cell must:

• have a realistic prospect of increasing in value;

• have a technology and/or innovation focus with the potential to create new or disrupt existing industries; and

• be based in Guernsey or otherwise have interests in the Bailiwick with the potential for further direct or indirect investment opportunities and benefits to the Bailiwick, or have the potential for a future positive impact on, or benefit to, the Bailiwick’s economy.

To download this information in pdf form please click here: Locate Guernsey – Investment Fund Info Sheet