Crescent Capital was a venture capital fund manager

venture capital

Crescent Capital was venture capital fund manager that was based in Belfast.

Its last and final fund is now in run-off, having distributed the remaining holdings to its partners.

Colin Walsh established Crescent Capital as a venture capital fund manager in 1995 in conjunction with Hambros plc, the Industrial Development Board for Northern Ireland (the predecessor to Invest NI) and a range of institutional and private investors from the UK, Europe and US, raising a £14m fund in 1996. This fund invested in 12 companies.

In 2004, Crescent raised its second fund, Crescent Capital II LP (‘Fund II’), at £22.5m in collaboration with Invest NI and the private sector including participation from Northern Ireland’s two universities (Queen’s University Belfast and Ulster University), the Northern Ireland Local Government Officers Superannuation Committee, Ulster Bank Limited, the European Investment Fund and the New York State Common Retirement Fund (‘NYSCRF’). This fund completed investments in 14 businesses, including one crossover investment from the first fund.

In 2013, Crescent raised its third fund, Crescent Capital III LP (‘Fund III’), at £30m in collaboration with Invest NI, NYSCRF (via 57 Stars), Queen’s University Belfast and several private investors. This fund completed investments in 15 companies, including two crossovers from the second fund.

Crescent completed investments in 38 companies across these funds. Crescent considers that some of Northern Ireland’s most exciting technology companies, which are at the forefront of the development of the local indigenous technology sector, have emerged from these portfolios. Returns have also been achieved from investments in industrial and manufacturing businesses.

Across these portfolios were several companies widely regarded as being among the most promising businesses with substantial international export potential. Several of these companies achieved significant progress in sales, profitability, employment, and shareholder value.

All the investments in the three funds are either exited and/or, in the case of Fund III, distributed to partners.

venture capital

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venture capital