Crescent Capital - Venture Capitalists in Belfast Northern Ireland

Crescent Capital is a Belfast based fund manager which invests in Northern Ireland based companies operating in the information technology, life sciences and manufacturing sectors. Crescent currently manages two funds totalling £36.5m; Hambro Northern Ireland Ventures LP (established in 1995) and Crescent Capital II LP, established in 2004.

Investors in the funds include New York State Pension Fund, Investec Bank, IKEA Group, NILGOSC (Northern Ireland Local Government Officers Superannuation Committee), Invest Northern Ireland, the European Investment Fund, Queens University Belfast, University of Ulster, and several other pension funds, insurance companies, private individuals and institutional investors from the UK, Europe and the US.

Investment Size

Crescent invests between £250k and £1.5m initially, with up to £2.25m invested per company over all rounds.

Larger transactions and follow-on funding rounds are undertaken in conjunction with other venture funds, often as a result of syndicated deals led by Crescent.

Investments are in the form of equity and both majority and minority positions are considered. Returns are sought from capital appreciation rather than dividend yield.

Investment Strategy

Crescent invests primarily in early stage and development stage technology companies in Northern Ireland. A clear marketing and/or technological advantage should be identifiable.

The balance of the Fund is allocated to development capital investments in more mature companies, management buy-outs and buy-ins. These will primarily be technology related, however investments in more traditional manufacturing businesses will also be considered.

Crescent is seeking management teams with good track records which are prepared to commit their own capital to transactions. We would expect to exit investments within five to seven years.

Added Value

The Fund Manager seeks to play an active role in assisting the development of portfolio companies and one of its executives will join the board.

Our added value is generally manifested in some of the following areas:-

• Strategic management input;
• Financial advice;
• Assistance with the selection, appointment and development of executives and senior staff.
• Assistance in dealings with economic development agencies;
• Corporate development;
• Assistance in negotiating major contracts, acquisitions or disposals etc;
• Assistance with further fund raising and refinancing arrangements;
• Corporate governance;