Innovation Investment Capital

Innovation Investment Capital is a £50 million equity fund supporting scale up businesses across the Cardiff Capital Region in Southeast Wales.

What is the project about?

CCR’s Innovation Investment Capital is a £50 million equity fund to support high-growth, technology-focused companies across the Cardiff Capital Region in Southeast Wales. It will provide investments of £2m-£7m to support high-growth businesses located in(or considering expanding to) one of the ten local authority areas in the Cardiff Capital Region. Created by CCR, powered by PwC, and structured as an Alternative Investment Fund managed by Capricorn Fund Managers, this pioneering funding programme is geared towards generating Good Growth and inclusive prosperity for our whole region – helping realise the ambitions of enterprises being built and shaped around bold visions.

Dedicated to accelerating the ambitions of innovative and responsible enterprises in a variety of services and industries – including the CCR priority sectors of Compound Semiconductors, Medtech, Fintech and Cyber, to Energy, the Creative Industries and beyond – helping fund sustainable ideas, practices and entrepreneurial ambitions, for enterprises based in each of the ten unitary authorities of the Cardiff Capital Region.

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The Innovation Investment Capital aims to make available transformative ‘patient capital’ – scaling-up enterprises throughout the initial five-year period of this ten-year programme.

The programme will invest in businesses which offer a reasonable probability of generating attractive equity-level returns. Funding for each individual investment will be considered on a case-by-case basis. We will look to provide a minority equity investment within the £2m-£7m range, with a preference for co-investment opportunities.

Ultimately, we are seeking to establish our region as a go-to destination for investing in innovation, helping to grow the CCR economy by the creation of:

  • 200+ high-value jobs
  • £100m+ increase in GVA

Strongly-aligned with the CCR Regional Economic & Industrial Plan and Levelling-Up Prospectus, this programme will make a real difference (and impact) regionally and nationally; through collaboration between three expert programme partners – Cardiff Capital Region, PwC and Capricorn Investment Group.

Who is the investment for?

CCR’s Innovation Investment Capital is for scale-up businesses (not start-up enterprises) with key assessment criteria including:

  • A strong and capable core management team with a verifiable track record.
  • Proven investment in the company from the Founders/Management.
  • A commitment to expand or relocate to the Cardiff Capital Region for the long term.
  • A minimum stake of 10%.
  • Must be post-revenue.
  • An investment within the £2m-£7m
  • A commitment to making ongoing improvement in sustainability and good governance.

Investment and leverage

£50m

CCR Initial Investment

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£50m+

Co-Investment Opportunity

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£100m+

Increase in GVA

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How will this fund benefit the region?

To help realise the ambitions of enterprises being built and shaped around bold visions by;

  • To increase the availability of ‘patient capital’ to high-growth innovative indigenous and non-indigenous businesses.
  • Generate economic growth in the CCR by investing responsibly in innovative, scaleable and R&D-focused businesses.
  • Make our region more competitive, more productive and more sustainable in our priority sectors, trading economy and foundational economy.

Those visions will be achieved by:

  • Promoting inward investment and co-investment, encouraging additional funding from other institutions or individuals.
  • Providing investments aligned to CCR’s approach to supporting the development of innovation, infrastructure and skills geared to maximising social and economic value.
  • Helping to address the wider environmental, social and governance challenges of today’s world, by ensuring that every business we support improves their ESG over the lifetime of investment.
  • Opening up new horizons for future rounds of funding, by supporting businesses as they continue their growth.

Key Partners & People Involved

CCR Partner Logo
Cardiff Capital Region
PwC Partner Logo
PwC
Capricorn Partner Logo
Capricorn Fund Managers
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