New fund targets equity gap

Panoramic Growth Equity (“Panoramic”), an independent investment business, is pleased to announce it has secured a £21.7m commitment into its new fund through the UK Government’s Enterprise Capital Fund (“ECF”) scheme.

This is the largest single commitment awarded to date under the ECF programme.  The Panoramic fund is £32.5m in size and is focused on fast growing later stage small and medium sized companies (“SMEs”) across a broad spectrum of sectors.  Investments will be made from £0.5m up to £2.0m into UK growth businesses that require equity funding to take their growth plans to the next stage.  The Fund will help meet the increasing demand by SME’s for growth capital, at a time when the supply of capital in the equity gap has come under considerable pressure.

Panoramic has been formed by its 3 partners who have over 30 years experience investing and advising SME’s in the UK and overseas. The senior team comprises Stephen Campbell, David Wilson and Malcolm Kpedekpo who have backed many successful businesses in this market in the past.  This new fund will allow the team to continue that support into the next generation of entrepreneurs.

Commenting on the award of the ECF mandate, Stephen Campbell, partner at Panoramic said:

“We are delighted to have secured this commitment following a highly competitive and rigorous process.  The award to Panoramic reflects the quality and experience of the Panoramic team and justifies our belief that there are significant opportunities to invest in fast growing SME’s across a range of industries, throughout the UK.  The current market conditions only highlight further the need for an increased availability of finance for the SME market.”

Stephen Campbell continued:

“Investors into our fund have the potential to make significantly enhanced returns whilst backing the next generation of entrepreneurs throughout the UK.  One of the objectives of the ECF scheme is to encourage new private investment into this market, achieved through an attractive structure that substantially increases the private investor’s returns.”

Rory Earley, CEO and CIO of Capital for Enterprise Limited said:

“We have worked closely with the PGE team for a number of months and have been attracted by the team’s experience, a track record of success and a long history of supporting SMEs with their growth ambitions’.”