DOCSLIB.ORG

Enterprise in London: Guide

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Enterprise in London: Guide Enterprise Pathways 1 ENTERPRISE IN LONDON: GUIDE Interested in Entrepreneurship? Find out about the opportunities, events and possibilities that London has to offer for budding entrepreneurs like you, with this useful guide to enterprise in the capital. LONDON’S EVENING UNIVERSITY 2 Enterprise Pathways Enterprise Pathways 3 HAVE A BUSINESS IDEA? NOW IS TIME TO ENTERPRISE IN MAKE IT HAPPEN! You’re studying at Birkbeck, you’re based in London and you have a business idea; this is a recipe for success and you’re in the right place. LONDON: GUIDE This guide from Birkbeck’s Enterprise Pathways team will take you through the vast opportunities available to you. Regardless of your course of study, if you have a business idea that you want to take forward you will find plenty of useful information and guidance here. We’ll provide a journey through the extensive offering that London brings for budding entrepreneurs, from free resources and incubators to funding support and start-up competitions; you’ll get a flavour for where entrepreneurship happens in London. Wherever you’re reading this, we’re sure you’ll find ideas that will inspire you to progress your idea and we’re excited to be part of your journey! 4 Enterprise Pathways Enterprise Pathways 5 ENTREPRENEURSHIP QUIZ: DO YOU HAVE IT IN YOU TO BE AN ENTREPRENEUR? We found this interesting self-assessment quiz on Forbes. Even though we believe entrepreneurs are made and not born, some people do have a knack for starting their own thing and being their own boss. This doesn’t only entail a great risk-taking spirit and unparalleled resilience; it also includes The questions present hypothetical embracing failure, openness to experience situations drawn from Harrison’s interviews and flexibility. with hundreds of successful entrepreneurs. The quiz assesses each of the five Each answer says something about your personality factors by examining six entrepreneurial bent, though some answers secondary traits that comprise each factor yield a neutral result (suggesting someone (See explanations of each factor on the neither more nor less entrepreneurial link provided). The quiz is adapted from in nature). the Entrepreneurial Personality Quiz in Instinct: Tapping Your Entrepreneurial SEARCH ONLINE: Forbes Entrepreneur DNA to Achieve Your Business Goals, Personality Quiz by Thomas L. Harrison. The five factors DIRECT LINK: forbes.com/2010/08/02/ underpinning the model are Openness to entrepreneur-personality-quiz-thomas- Experience, Conscientiousness, Extroversion, harrison-entrepreneurs-management-serial- Agreeableness, and Neuroticism – OCEAN. startups-10-quiz.html 6 Enterprise Pathways Enterprise Pathways 7 FROM IDEATION TO WHERE CREATION ENTREPRENEURSHIP HAPPENS IN LONDON Startup Commons, a global non- profit start-up consultancy, developed London is a hub. You would a simplified framework on the start-up be surprised how many events, development phases: acceleration/incubation programmes, networking opportunities and much more are out there for early FORMATION VALIDATION GROWTH entrepreneurs like you, as well as Mission > Vision > Strategy Lean Startup Scale Up Establish & others who are more established. ● Co-founder team formation Minimum Viable Validate / Iterate Strengthen ● What, to whom? & Why and how? Product (or pivot) We’ve aimed to map where such events and opportunities happen -2 -1 0 1 2 3 in the capital for you to explore along your journey. Problem / Solution Fit Vision / Founders Fit Product / Market Fit Business Model / Market Fit Ideating Concepting Committing Validating Scaling Establishing Entrepreneurial Defining mission and Committed, skills balanced co- Iterating and testing Focus on KPI based Achieved great growth, ambition and/or vision with initial strategy founding team with shared assumptions for validated measurable growth in that can be expected to potential scalable and key milestones for vision, values and attitude. solution to demonstrate users, customers and continue. Easily attract product or service idea next few years on how to Able to develop the initial initial user growth and/or revenues and/or market financial and people for a big enough target get there. Two or three product or service version, revenue. Initial Key traction & market share in resources. Depending on market. Initial idea on entrepreneurial core co- with committed resources, or Performance Indicators (KPI’ a big or fast growing vision, mission and how it would create founders with already have initial product or s) identified. Can start to target market. Can and commitments, will value. One person or a complementary skills and service in place. Co-founders attract additional resources want to grow fast. continue to grow and vague team; no ownership plan. Maybe shareholder agreement (SHA) (money or work equity) via Consider or have attracted often tries to culturally confirmed additional team members signed, including milestones, investments or loans for significant funding or continue “like a startup". commitment or no for specific roles also with with shareholders time & equity, interest or revenue would be able to do so if Founders and/or investors right balance of skills ownership. money commitments, for next share from future revenues. wanted. Hiring, improving make exit(s) or continue in the team structure three years with proper quality and implementing with the company. yet. vesting terms. processes Startup Development Phases - From idea to business and team to organization. Version 3.0 - www.startupcommons.org The framework helps to understand devoted to creating a business the start-up journey, identify key model of a growing business and stages and to help develop a start-up organisation that captures the value from “idea to business” and from being created. “founding team to organisation” in a As you can see from the figure, balanced and understandable manner. the journey starts with Ideation For a new idea, you do not just need to through to Validation until you reach visualize the innovation process itself; Establishment. Going through it, you need to project your idea to do you think your entrepreneurial generate value as a product and ambition has the potential to business model. To develop all of eventually achieve growth and these together, you need to be fully attract financial resources? LINK: startupcommons.org/ 8 Enterprise Pathways Enterprise Pathways 9 1. GOVERNMENT PROGRAMMES BRITISH LIBRARY BUSINESS AND IP INNOVATE UK CENTRE The UK government is giving The Business and IP Centre supports entrepreneurship specific attention small business owners, entrepreneurs and there is no better time to start and inventors. For an early-stage a venture. Innovate UK is the UK’s entrepreneur you can develop your innovation agency; it’s an executive, ideas with the centre’s market research non-departmental public body and company databases, learn sponsored by the Department for new skills at a workshop or mini- Business, Energy and Industrial masterclass, or have a one-to-one with Strategy. The department strives successful entrepreneurs and experts to determine which science and in their field. The centre also provides technology developments will information clinics and research drive future economic growth and service. Their flagship programme, publishes an annual delivery plan Innovating for Growth, offers £10,000 to summarise its programmes, worth of free support. If you’re after funding competitions and industries more specialised start-up support, of interest. Not only does Innovate they have a dedicated programme UK fund innovation, they also pair for that too. innovative entrepreneurs in science and tech with business partners and LINK: bl.uk/business-and-ip-centre industry leaders. Make sure you STAGE: Start-up and early stage INDUSTRY: Any subscribe to the blog and check out FUNDING: Yes their annual delivery plan. TYPES OF INTERVENTION: Training and business resources, mentorship for start-ups, LINKS: workshops and events, protecting ideas and • gov.uk/government/organisations/ related IP innovate-uk/about • gov.uk/government/publications/ entrepreneurs-setting-up-in-the-uk/ entrepreneurs-setting-up-in-the-uk STAGE: Any INDUSTRY: Science and tech FUNDING: Yes TYPES OF INTERVENTION: Innovation funding advice, events, networking with experts and industry leaders 10 Government Programmes Enterprise Pathways 11 MAYOR’S ENTREPRENEUR HORIZON 2020 THE DEPARTMENT FOR COMPETITION INTERNATIONAL TRADE’S For established start-ups and (DIT) GLOBAL ENTREPRENEUR PROGRAMME (GEP) The Mayor’s Entrepreneur innovative SMEs, Horizon 2020 is competition is in partnership with definitely worth looking into. You This initiative targets global Citi Foundation and is a funding must partner up with two other start- The programme also sponsors entrepreneurs looking to expand their competition for students in London. ups or research organisations in two your Entrepreneur visa to come to businesses to the UK. DIT’s GEP If you’ve got a business idea that different countries to form a three- the UK. To do this you will need places international entrepreneurs provides a creative solution to the member consortium. The Horizon to have received at least £50,000 in the UK through domestic seeding environmental and social challenges 2020 programme was established of funding from an approved competitions and accelerator that London faces, this is the by the European Union (EU) as a organisation (venture capital firm, programmes. So if you‘re an competition for you. collaborative financial instrument
Load more

Recommended publications
  • 2017 Mid-Market Private Equity Transactions
    2017 MID-MARKET PRIVATE EQUITY TRANSACTIONS Sale of Key Acquisition of Minority investment Retirement Group to Buyout of Future Investment in Media Buyout of Reapit by Syslink by Synova in Radius Payment Partners Group by Investment in Industrial Services iQ by ECI Partners Accel-KKR Capital Solutions by Phoenix Equity ChargePoint by NorthEdge Inflexion Partners Technology by LDC Capital Advised ECI Advised Accel-KKR Advised Synova Advised Inflexion Advised Phoenix Advised LDC Advised NorthEdge Sale of Fine Acquisition of Investment in Make Investment in Sale of The Creative Industries by Acquisition of AllClear Insurance It Cheaper by ECI Rayner Surgical Acquisition of Engagement Group NorthEdge Capital Thornbridge Services by Synova Partners Group by Phoenix Fastflow Group by by LDC to Sawmills by Capital Equity Partners Elysian Capital Huntsworth plc Advised NorthEdge Cairngorm Capital and other Advised Synova Advised ECI Advised Phoenix Advised Elysian Advised LDC shareholders Advised Cairngorm Sale of MKM Investment in Sale of Admiral Building Supplies to Law Firm of the Year Sygnature Discovery Buyout of Cawood Buyout of Fishawack Taverns to Proprium UK Legal Adviser of Bain Capital by 3i (Deal Structuring) by Phoenix Equity Scientific by Communications by by Cerberus and the Year and LDC Partners Inflexion LDC management 2017 2017 Advised 3i and Advised Phoenix Advised Inflexion Advised Admiral LDC Advised LDC 2017 GROWTH AND DEVELOPMENT CAPITAL TRANSACTIONS Minority investment in Sale of JCRA to Shaw Healthcare by Investment in
    [Show full text]
  • Financing Growth in Innovative Firms: Consultation
    Financing growth in innovative frms: consultation August 2017 Financing growth in innovative frms: consultation August 2017 © Crown copyright 2017 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]. Where we have identifed any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/publications Any enquiries regarding this publication should be sent to us at [email protected] ISBN 978-1-912225-08-8 PU2095 Contents Page Foreword 3 Executive summary 5 Chapter 1 Introduction 7 Chapter 2 The patient capital gap 9 Chapter 3 Strengths and weaknesses in patient capital 17 Chapter 4 Root causes (1): deployment of / demand for patient capital 29 Chapter 5 Root causes (2): supply of capital 35 Chapter 6 Current interventions 43 Chapter 7 Implications for policy 51 Annex A List of consultation questions 61 Annex B Terms of reference for the review 63 Annex C Terms of reference for and members of the Industry Panel 65 Annex D Data sources 69 1 Foreword Productivity is important. As I set out in my speech at the Mansion House earlier this summer, improvements in productivity ultimately drive higher wages and living standards. This makes it much more than just another metric of economic performance.
    [Show full text]
  • Powerpoint® Template Quick Reference Guide
    Chris Wattie, Reuters Canadian Private Equity Buyout Review First Half 2018 Table of Contents Canada’s PE Buyout Market in H1 2018 3 $ Invested and # Companies Financed 5 Investment by Company Location 7 Investment by Transaction Type 8 Investment by Investor Location 9 PE Investment vs. all Canadian M&A 10 Top PE Buyout Deals 11 Investment by Deal Size 12 Investment by Company Sector 13 Canadian Firms’ Investment Abroad 14 Buyout Funds Raised 16 PE Buyout-Backed Exits 17 PE Buyout Returns 18 Explanatory Notes & Contacts 19 Canadian Private Equity Buyout Market Activity: First Half 2018 Canadian Buyout-PE Market Trends The first half of 2018 within Canada’s buyout and related private equity market saw a total of 173 transactions collectively valued at $18.3 billion. Deal values reached a new all time high for the first half of the year, surpassing by 26% the previous highs of $14.5 billion set in both the first half of 2007 and the first half of 2017. Deal volumes saw a year-over-year decrease of 14%, resulting in an average disclosed deal value of $232 million. The March closing of the $5 billion secondary sale of Bolton, Ontario-based Husky Injection Moldings Systems, originally announced last December, by OMERS Private Equity and Berkshire Hathaway to US private equity firm Platinum Equity, has retained the number one spot in both Canada’s top deals list and top exits list. Other top deals during the quarter were the announced $3.8 billion acquisition of industrial properties portfolio operator Pure Industrial Real Estate Trust by Blackstone Group as well as Mitel Networks’ $2.6 billion sale to Searchlight Capital Partners.
    [Show full text]
  • Private Equity a Fresh Look
    Private Equity A fresh look First Published May 2012 A private equity lobbyist runs into a banking lobbyist in the street. “Oh, thanks,” he says. “For what?”the banking lobbyist asks. “For diverting all the bullets which were being shot at us,” replies the private equity lobbyist. Invariably the headlines had been all about asset stripping, how private equity houses over-leveraged companies to the point where they had so much debt they were, in effect, set up for failure should the merest breeze waft through the economy. The days of using financial engineering, in other words significant debt, as a means of generating a return for private equity houses have probably gone. The future for private equity is to achieve it from growing a business and in truth, that’s the model most private equity houses working in the real world, as it were, have always adopted. Part of the problem is the considerable confusion that exists between private equity and hedge funds. The two have often been viewed as synonymous when, in fact, they are quite different in fundamental ways. Typically, private equity is a four to five-year investment based on working with the company executives in order to create additional value. Hedge funds, on the other hand, tend to be much shorter-term (six to eighteen months), are more speculative, with generally little knowledge of the target company and its management, and less regulated. Arguably the origins of private equity in this country can be found in the formation of the Industrial and Commercial Finance Corporation at the end of the second world war to invest in companies which couldn’t get sufficient funding from the banks but were too small to turn to the stock exchange.
    [Show full text]
  • Annual Report and Accounts 2020
    HSBC Bank plc Annual Report and Accounts 2020 Contents Cautionary Statement Regarding Forward- Looking Statements Page Strategic Report This Annual Report and Accounts 2020 contains certain forward- Highlights 2 looking statements with respect to the financial condition, results Responding to the new environment 3 of operations and business of the group. Key financial metrics 3 Purpose and strategy 4 Statements that are not historical facts, including statements about the group’s beliefs and expectations, are forward-looking Products and services 6 statements. Words such as ‘expects’, ‘anticipates’, ‘intends’, How we do business 7 ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘potential’ and ‘reasonably Key Performance Indicators 12 possible’, variations of these words and similar expressions are Economic background and outlook 13 intended to identify forward-looking statements. These statements Financial summary 14 are based on current plans, estimates and projections, and Risk overview 20 therefore undue reliance should not be placed on them. Forward- Report of the Directors looking statements speak only as of the date they are made. HSBC Risk 22 Bank plc makes no commitment to revise or update any forward- – Our approach to risk 22 looking statements to reflect events or circumstances occurring or – Top and emerging risks 23 existing after the date of any forward-looking statement. – Areas of special interest 27 – Our material banking and insurance risks 31 Forward-looking statements involve inherent risks and Capital 72 uncertainties. Readers are cautioned that a number of factors Corporate Governance Report 86 could cause actual results to differ, in some instances materially, – Directors 86 from those anticipated or implied in any forward-looking – Company Secretary 88 statement.
    [Show full text]
  • Mind the ^^^ Gap Evidencing Demand for Community Finance
    Community Development Finance Association Research Report FFF IIINNNAAANNNCCCEEE MIND THE ^^^ GAP EVIDENCING DEMAND FOR COMMUNITY FINANCE Dr Nick Henry & Philip Craig, ICF GHK FULL REPORT January 2013 Supported by Community Development Finance Association Research Report Mind the Finance Gap Evidencing demand for community finance Dr Nick Henry & Philip Craig ICF GFH FULL REPORT January 2013 © CDFA 2013 This report and the summary report are available on our website at: www.cdfa.org.uk/mindthefinancegap Any enquiries regarding this report, contact: Ian Best, Policy & Research Manager, CDFA [email protected] Views expressed in this report are not necessarily those of the Community Development Finance Association or RBS Group. Research and report by ICF GHK, conducted on behalf of the CDFA and made possible though the support of RBS Group. The Community Development Finance Association represents non- profit social enterprises known as Community Development Finance Institutions (CDFIs). CDFIs provide loans to those unable to access finance from mainstream financial institutions such as banks. CDFA’s mission is to support the development of a thriving and sustainable CDFI sector that provides finance for disadvantaged and underserved communities and, as a consequence, contribute to the increasing prosperity of these communities. www.cdfa.org.uk In 2012, GHK Consulting became ICF GHK, a wholly owned subsidiary of ICF International. A multi-disciplinary public policy research and evaluation consultancy of around two hundred staff, we are one of Europe’s leading providers of impact assessments and ex ante, mid- term, final and ex post evaluation services to central Government departments, the European Commission and national, local and civil society organisations.
    [Show full text]
  • Ready for Business: a Year in Review
    Many growing companies say they want a different kind of investor. Someone to help them scale, without taking control. To challenge them, without driving them too hard, too fast. To treat them with the honesty, respect and empathy they deserve. That’s why we exist. READY FOR BUSINESS - A YEAR IN REVIEW READY FOR BUSINESS - A YEAR IN REVIEW 04 Our year in Contents review 20 Our approach 28 Our people and partners 40 Our portfolio 4 5 READY FOR BUSINESS - A YEAR IN REVIEW READY FOR BUSINESS - A YEAR IN REVIEW Our year in review 6 7 READY FOR BUSINESS - A YEAR IN REVIEW READY FOR BUSINESS - A YEAR IN REVIEW Forging Sir Nigel Rudd ahead Chair, BGF These are interesting times to be running with two caveats. The first is that you have in uncertain a business. We’ve experienced widespread to have shareholders who are supportive and uncertainty since the EU referendum, but understand that this is a short-term issue despite the swiftly changing landscape, many and the business is great. And secondly, companies are still going for growth. We’ve you have to have a balance sheet that is not continued to invest in brilliant entrepreneurs this overloaded with debt. year – all with the ambition to forge ahead. times This is where BGF comes in – a supportive Whatever the challenge faced by our shareholder that backs companies it believes portfolio of companies and others like them, in over the long term, and is prepared to put our promise to them remains the same as we more money where and when it is needed.
    [Show full text]
  • 2019 Annual Report
    Investment as it BGF Annual Report 2019 BGF Annual should be BGF Annual Report 2019 Our business BGF Annual Report 2019 BGF has created an investment platform that spans the length and breadth of the UK and Ireland, and all sectors of the economy. Through a well-capitalised and evergreen balance sheet, we provide long-term, minority equity investments on a scale unmatched by the global investment community. 01 BGF Annual Report 2019 Our purpose 02 BGF Annual Report 2019 BGF is a different kind of investor, dedicated to supporting growth and value creation in entrepreneurial companies. We exist to inspire business leaders, inventors and value creators to build strong, sustainable businesses. 03 BGF Annual Report 2019 Our difference 04 BGF Annual Report 2019 We see each investment as a partnership. Working closely with our portfolio, we bring open minds and a shared ambition to support progress, build great places to work and positively impact communities, the environment and economies. 05 BGF Annual Report 2019 Contents 06 BGF Annual Report 2019 01 Introduction Our business 01 Our purpose 03 Our difference 05 08 Strategic report About us 08 Chairman’s statement 10 Market overview 12 Business model 14 Our portfolio 16 CEO’s review 20 Responsible business 24 Business review 30 Risk review 32 34 Governance Board of Directors 34 Governance statement 36 Directors’ report 42 Statement of Directors’ responsibilities 43 44 Financial statements Independent Auditor’s Report 44 Consolidated profit and loss account 46 Consolidated and Company balance sheet 47 Consolidated and Company statement of changes in equity 48 Consolidated cash flow statement 49 Notes to the financial statements 50 78 Additional information Company information 78 07 BGF Annual Report 2019 About us Our business Highlights 2019 at a glance £1.8bn £6.4m How we add value Follow-on capability from BGF allows our portfolio 45 to explore growth potential that may not otherwise be possible.
    [Show full text]
  • “The Strength of Our Firm – and the Value We Provide to Clients – Depends on the Strength of Our People
    “The strength of our firm – and the value we provide to clients – depends on the strength of our people. We foster an environment that inspires our people to thrive and remain singularly focused on our clients’ success.” Managing Partner in Toronto, Sarb leads the firm’s strategic direction. He sets the standard for our partnership with his commitment to excellence and client Sarbjit S. Basra service. Managing Partner For over two decades, leading private equity firms and institutions have trusted Sarb for his ongoing advice on private fund formation, the creation of pooled Office investment vehicles and investment transactions – both in Canada and Toronto internationally. He is known for providing innovative solutions to clients’ most complex business initiatives – whether structuring a private fund or leading a Tel private equity or M&A transaction. 416.367.6926 Clients consider Sarb a “senior and strategic” lawyer who “looks after Email relationships really well,” describing him as “phenomenal” and “the best in [email protected] Canada.” (Chambers Canada 2020; Chambers Canada 2019) Sarb is a key adviser to governments on the establishment of private sector–led Expertise Private Equity funds of funds designed to spark venture capital investment by the private sector. Capital Markets & Securities Most recently, he advised the Business Development Bank of Canada on the Mergers & Acquisitions formation of four funds of funds as part of its Venture Capital Catalyst Initiative. Corporate REPRESENTATIVE WORK Bar Admissions Ontario, 1994 Northleaf Capital Partners Acted for Northleaf Capital Partners in its strategic sale of a non­controlling interest to Mackenzie Financial Corporation, a subsidiary of IGM Financial Inc., and Great­West Lifeco Inc.
    [Show full text]
  • Funding Available for IP-Rich Businesses
    20 IP Finance Toolkit 5. Funding Available for IP-Rich Businesses Introduction As the “Banking on IP?” report notes; SMEs’ first port of call for finance is often a bank. Figures quoted in the report show that 40% of SMEs seek a loan and 35% seek an overdraft. Only 1-2% of these businesses try to get equity funding. It is likely then that potential sources of funding are untapped. The Banking on IP response identified that one of the problems businesses faced was how they might identify financing options available to them. Funding available The following types of funding are in addition to the normal funding available via bank loans or family and friends. Debt Finance Asset-based lending Asset based lending is finance which is secured by assets, such as plant and machinery, stock and property. Invoice financing is the most common form of asset based lending and in most cases acts to support business to manage their cash flow, bridging the gap between the delivery of goods or services by a business and the payment from its customer. Businesses typically use this type of finance to fund their working capital and those that are experiencing high growth find invoice finance flexible as the borrowing grows alongside the sales ledger. The bank will provide an advance that represents a percentage of the amount invoiced which depending on the business, the sector and the payment profile will generally range from 70-90%. Creative England Business Loan Fund The Business Loan Fund is intended to stimulate business growth and development in creative and digital Small, Medium-sized Enterprises (SMEs).
    [Show full text]
  • Options to Support Private Equity Investment in Georgia
    P O L I C Y B R I E F I N G 0 5 | 2 0 2 0 G E O R G I A Options to support private equity investment in Georgia Dr Alexander Lehmann Berlin/Tbilisi, September 2020 © Berlin Economics Outline I. Policy challenges for Georgia II. Recent trends in private equity in emerging Europe and rationales for state support III. Types of state support to private equity in mature capital markets IV. Alternative models of equity support V. Recommendations for Georgia © Berlin Economics 2 I. Policy challenges for Georgia © Berlin Economics 3 Georgia’s pre-existing vulnerability from corporate debt Distribution of Net Debt to EBITDA by company size • In GET Georgia (2019) we found a 100% large share of firms at risk from 80% excess leverage. 38% of firms 60% showed a net Debt to EBITDA ratio 40% 20% >4, representing 40% of assets in 0% the entire sample or 52% of all debt complete large medium in the sample. >=4 <4 <3 <2 <1 • The interest coverage ratio, as a Sources: SARAS database and GET calculations. Distribution of the Interest coverage Ratio by company size measure of liquidity risk, was below 100% the threshold of one for 38% of 80% firms. 60% • The current recession (Sep-2020 40% IMF estimate: -5% contraction) will 20% impact small enterprises in the large 0% tourism and hospitality sector complete large medium <1 <2 <3 >=3 particularly hard. Sources: SARAS database and GET calculations. © Berlin Economics 4 Options to strengthen equity capital in Georgia • There is limited scope to avert the impact of the current recession on corporate balance sheets, which arises from the adverse demand shock, an uncertain outlook for certain business models (retail, tourism, hospitality), and possibly disrupted financing.
    [Show full text]
  • Foresight Environmental Fund LP
    Foresight Environmental Fund LP Proposal for Royal Borough of Kensington & Chelsea Pension Fund Foresight Environmental Fund LP Proposal for Royal Borough of Kensington & Chelsea Pension Fund Summary The Foresight Environmental Fund is a private equity fund focussed on London’s growing recycling industry and targeting compound annual growth of 20-30%. Launched in March 2011 with a cornerstone commitment of £35 million by the European Investment Bank (from the London Green Fund), the Fund’s institutional supporters also include the London Pension Fund Authority and East Riding Pension Fund. The Fund has been reviewed by Hymans Robertson. This memorandum sets out the basis for a potential £10 million commitment by the Royal Borough of Kensington & Chelsea Pension Fund. The proposal is summarised on pages 1-3, with separate sections giving more detail on the investment pipeline, fundraising status and management team experience. Investment Strategy The Fund will provide development capital to support companies that operate waste-to-energy and recycling facilities in the Greater London area. The Fund’s portfolio will be diversified across a variety of waste feedstocks, process technologies and output markets, in order to target high returns without the risk inherent in relying on any single waste source, process or market. The Fund will invest at the construction stage and will not normally take planning risk. The Fund will position its portfolio for acquisition by large waste management groups and secondary funds, with the aim of returning capital and profits to investors between the 4th and 8th years of the Fund’s life. Fund Management The Fund is managed by Foresight Group LLP, an English limited liability partnership owned by its investment staff and authorised by the FSA.
    [Show full text]