PHD targets £25m for new investment fund

PHD Equity Partners has raised £16.5m for a second private equity fund which it will launch in January.

PHD is run by the Daresbury-based corporate finance firm Dow Schofield Watts.

Its target for the fund, which is backed by high net worth individuals, is £25m which it hopes to reach by March.

The fund will aim to invest up to £4m in firms operating across a range of sectors that have a value of around £10m.

Managing partner James Dow said: “We are delighted with the support we have received from investors which we see as recognition of the high quality of our team, the value created within our existing portfolio companies and the strong performance of our past investments.

“Having now completed our final investment from Fund 1 we are excited about finding new businesses for Fund 2 to help ‘scale up’ in 2015. Our successful fund-raising for Fund 2 is a hugely significant step forward in our ambitions to create a truly unique proposition for investors and investee companies.”