Enterprise Ventures reappointed on Rosebud Fund

FUND manager Enterprise ventures has been re-appointed as fund advisor of the Lancashire Rosebud Fund.

The contract win means Enterprise Ventures will run the fund for Lancashire County Developments, the economic development arm of Lancashire County Council, for another five years.

First set-up 24 years ago, Rosebud provides loan and equity funding to small and medium sized businesses based in the County of Lancashire.

During Enterprise Ventures’ previous five year contract, Rosebud supported 190 Lancashire-based SMEs, investing more than £6.5m and attracting some £20m of leveraged funds into the region’s economy. Its investment activities helped to protect almost 1,000 jobs and create a further 750 positions within the County.

Richard Bamford, executive chairman of Enterprise Ventures, said: “We are delighted to be re-awarded the management of Rosebud, which for many years has had a highly positive impact upon the economic and regenerative activities in the Lancashire region.”

He added: “We are expecting this next five year period to see increased levels of activity and to build on Rosebud’s successes to date”.   

Stephen Dean, managing director of Lancashire County Developments, said: “EV won the European tender to supply this contract and support LCDL investing into local businesses, to both start and grow. This much needed cash through Rosebud and the professional support that comes with it are essential ingredients to help Lancashire businesses fight through the recession.”