Menu
10/08/2001
Economy Minister launches Viridian Growth Fund
“Venture capital is an essential ingredient in the promotion of enterprise in the Northern Ireland economy,” Sir Reg Empey, Minister for Enterprise, Trade and Investment has said.
The Minister was speaking at the official launch of the £10 million Viridian Growth Fund, a new venture capital fund that will provide finance for the development of existing and newly established businesses, especially in the high technology/IT sectors.
Highlighting the Viridian Growth Fund’s role in assisting the small and medium-sized business sector the Minister said: “In supporting the economy the government must meet the challenge of helping Northern Ireland SMEs to win an increasing share of international business in markets which are becoming more competitive and globally based.
“The Viridian Growth Fund, through focusing on the smaller end of the equity spectrum, will meet the needs of SMEs which are the backbone of the Northern Ireland economy.
“However the Viridian Growth Fund has also a further objective which is to encourage and create an enterprise culture in Northern Ireland, therefore reducing the region’s overall grant dependency.”
The Viridian Growth Fund is set provide finance in the form of loans on favourable terms and a small amount, up to 25 per cent of total investment, of equity or ordinary share capital.
However, the fund will not compete with existing sources of finance from the commercial and the venture capital sectors in Northern Ireland. (MB)
The Minister was speaking at the official launch of the £10 million Viridian Growth Fund, a new venture capital fund that will provide finance for the development of existing and newly established businesses, especially in the high technology/IT sectors.
Highlighting the Viridian Growth Fund’s role in assisting the small and medium-sized business sector the Minister said: “In supporting the economy the government must meet the challenge of helping Northern Ireland SMEs to win an increasing share of international business in markets which are becoming more competitive and globally based.
“The Viridian Growth Fund, through focusing on the smaller end of the equity spectrum, will meet the needs of SMEs which are the backbone of the Northern Ireland economy.
“However the Viridian Growth Fund has also a further objective which is to encourage and create an enterprise culture in Northern Ireland, therefore reducing the region’s overall grant dependency.”
The Viridian Growth Fund is set provide finance in the form of loans on favourable terms and a small amount, up to 25 per cent of total investment, of equity or ordinary share capital.
However, the fund will not compete with existing sources of finance from the commercial and the venture capital sectors in Northern Ireland. (MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
16 January 2002
Minister opens new offices of Viridian Growth Fund
Small businesses in search of venture capital have been given a further boost after the Minister for Enterprise, Trade & Investment, Sir Reg Empey, formally opened the new offices of the Viridian Growth Fund, at Cromac Place, Belfast.
Minister opens new offices of Viridian Growth Fund
Small businesses in search of venture capital have been given a further boost after the Minister for Enterprise, Trade & Investment, Sir Reg Empey, formally opened the new offices of the Viridian Growth Fund, at Cromac Place, Belfast.
18 April 2002
Dodds announces extra help for “most needy" in society
The Minister for Social Development, Nigel Dodds, has announced a further £1.73 million cash injection for the Northern Ireland Social fund. The increase brings the Social Fund, which helps the most needy people in society up to a total to £51 million for the next year.
Dodds announces extra help for “most needy" in society
The Minister for Social Development, Nigel Dodds, has announced a further £1.73 million cash injection for the Northern Ireland Social fund. The increase brings the Social Fund, which helps the most needy people in society up to a total to £51 million for the next year.
18 November 2003
Viridian Group announce half-year turnover up 12%
Viridian Group plc have announced that turnover has increased from £332m to £371m, up 12% on the corresponding period last year. The Group's operating profit increased 7% to £50.8m, up from £47.6m, and the contribution to operating profit from Viridian Power & Energy increased by £0.5m to £8.7m in the six-months to September 30, 2003.
Viridian Group announce half-year turnover up 12%
Viridian Group plc have announced that turnover has increased from £332m to £371m, up 12% on the corresponding period last year. The Group's operating profit increased 7% to £50.8m, up from £47.6m, and the contribution to operating profit from Viridian Power & Energy increased by £0.5m to £8.7m in the six-months to September 30, 2003.
04 November 2002
Viridian dispose of nevada tele.com shareholding
Northern Ireland based Viridian Group has announced the completion of the disposal of its 50% shareholding in nevada tele.com to joint venture partner Energis. Troubled telecommunications and internet services provider nevada's net liabilities as of March 31, 2002, were put at £14m and its operating loss for the year was £11m.
Viridian dispose of nevada tele.com shareholding
Northern Ireland based Viridian Group has announced the completion of the disposal of its 50% shareholding in nevada tele.com to joint venture partner Energis. Troubled telecommunications and internet services provider nevada's net liabilities as of March 31, 2002, were put at £14m and its operating loss for the year was £11m.
07 August 2003
Renewable energy partnership spearheads action programme
A partnership between the Department of Enterprise, Trade and Investment and the Viridian Group launched today, aims to encourage the development of renewable energy in Northern Ireland.
Renewable energy partnership spearheads action programme
A partnership between the Department of Enterprise, Trade and Investment and the Viridian Group launched today, aims to encourage the development of renewable energy in Northern Ireland.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
