A £50m fund to help the growth of small and medium-sized firms across the South West has been launched by investment group Foresight – with an office in Bristol due to open to support it.
FTSE 250 listed Foresight already manages a number of regionally focused private equity and venture capital funds dedicated to growing companies across the UK and Ireland. 
It said this strategy had proved successful, helping create thousands of jobs and generating benefits for local communities as well as good economic returns in what it called structurally underserved regional markets.
The fund will invest across all sectors and transaction types, including equity deals, backing growing companies to achieve their business ambitions while supporting their local economies and creating high-quality jobs.
The fund has been designed to be evergreen, providing a permanent pool of capital around which small and medium-sized firms can make long-term plans.
Foresight is to establish a team in the region based in offices in Bristol and Exeter, which will work as part of its larger private equity team.
Part of the investment in the new fund has come from Devon Pension Fund, which is managed by Devon County Council.
Chair of the council’s investment and pension fund committee James Morrish said: “We are delighted that the Devon Pension Fund is investing in a fund that will support local businesses and providing local jobs, whilst still delivering the investment return we need to meet our liability to pay pensions.”
Foresight Group partner Matt Smith, pictured, added: “We are delighted to launch a fund dedicated to the South West of England with support from Devon Pension Fund.
“We look forward to embedding ourselves in the local community and supporting growing companies across the region.
“Our investment approach is to work collaboratively with entrepreneurs and the broader local business community. We look forward to providing further updates on this exciting fund.”
Foresight has a track record of supporting firms in the South West and recently invested £5m in innovative children’s nursery and soft play provider Family Adventures Group, pictured.
Since then the firm, based in Wedmore, Somerset, has won a number of industry awards and is set to create a significant number of jobs in multiple new sites.
Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia.
