# Foresight Group raises £180M in fundraising, expands Dublin office and achieves strong fund performance

- Link: https://www.directorstalkinterviews.com/foresight-group-raises-180m-in-fundraising-expands-dublin-office-and-achieves-strong-fund-performance/4121140625
- Published: 2024-02-01T07:47:38+00:00
- Author: Amilia Stone

**Foresight Group Holdings Limited** (LON:FSG), a leading infrastructure and private
equity investment manager, today provides an update on year-to-date institutional
private equity and retail venture capital trust fundraising.

**Regional Private Equity**

The AIB Foresight SME Impact Fund will receive further funding from the Ireland 
Strategic Investment Fund. The Fund, which reached first close with a cornerstone
commitment from Allied Irish Banks in 2022, supports small and medium sized companies
across Ireland to fund growth, to adopt sustainable best practices and advance Ireland’s
transition to a green economy. ISIF is providing a €25 million commitment as part
of its €1 billion 5-year climate investment programme. This will see Foresight further
expand its Dublin office and broader activity across Ireland.

**VCTs**

Foresight has seen strong demand for the offers for subscription of Foresight VCT
Plc and Foresight Enterprise VCT Plc, with both recently announced as oversubscribed
^(1). While the £55 million^(2) total raised across both funds is comparable with
the prior year, the funds have reached capacity far earlier this financial year.
This reflects positively on the Group’s specialist in-house retail sales team and
the strong recent performance of both funds having delivered top three positions
^(3) when compared with peers on a one year share price total return basis.

These developments strengthen Foresight’s position as a leading UK and Ireland regional
SME investor, taking the division’s total fundraising to over £180 million in the
financial year-to-date. Funds raised include the previously announced first closes
for two new regional funds serving Wales (£50 million) and Northern Ireland (£10
million), over £50 million of top up investments into existing regional funds and
close to £70 million into VCT and EIS funds.

> **Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, commented:**
> _“Foresight continues to deliver consistent fundraising into higher margin vehicles,
> underpinned by strong fund performance and the strength of our in-house sales 
> team. In combination with our institutional infrastructure fundraising ambitions,
> we remain confident that the Group will continue its track record of profitable
> growth.”_

**Notes:**

1.     On the basis of the applications now received and assuming that they are 
all accepted.

2.     Total comprises Foresight VCT Plc’s offer for subscription of up to £20 million
with an over-allotment facility for a further £5 million and Foresight Enterprise
VCT Plc’s offer for subscription of up to £20 million with an over-allotment facility
for a further £10 million.

3.     Source: www.theaic.co.uk, with data as at 30 January 2024.

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