SWIG Capital is the fund holding arm of the South West Investment Group. Established in 1989, it is responsible for holding the capital of the funds, procuring fund managers and monitoring and reporting on the performance of the funds to the SWIG Group board and to the original funders including local authorities, the British Business Bank, central government, the European Commission and private investors.
SWIG Capital has a portfolio of funds totalling £20 million. This portfolio is managed by fund managers with the requisite experience of operating in this type of risk finance. Much of this is undertaken by the fund delivery arm of the group, SWIG Services Ltd (trading as SWIG Finance), but where there is a need for a particular expertise or for external procurement, other fund managers may provide services following a competitive tender. SWIG Capital has a transparent and independent process for undertaking such tenders which has been accepted by external public authorities. The compliance processes for managing and monitoring public funds, including European funds has been recognised by external funders and stakeholders as being excellent.
Once each fund is completed, SWIG Capital’s portfolio will have a significant legacy with its total size varying depending on the performance of the investee businesses and the success of the fund managers. This legacy will be reinvested in the South West region with monies being allocated by the geographical area from which they were sourced. The legacy must be used for similar purposes, ie. risk finance for South West businsesses, but the design of the products needs to be determined by SWIG Capital in conjunction with the local stakeholders, such as LEPs and local authorities as well as the national bodies. Depending on the scale of fund, the demand for risk finance in the area and other provision, this could include a variety of loan, mezzanine and equity products.
SWIG Capital Team
The small executive team and non executive board members have a wide experience in business, finance, accountancy and law as follows.
- Malachy McReynolds – Chairman
- Richard Coombs
- Bill Baker
- Nicky Pooley
- John Berry
Call: 01872 277331
South West Investment Group (Capital) Ltd, a company registered in England number 02360656 is the fund holding subsidiary of South West Investment Group Ltd, a company registered in England no. 02463497, Lowena House, Glenthorne Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9NY.
SWIG Capital Ltd is authorised and regulated by the Financial Conduct Authority for consumer credit, licence number 0323164. Its address is 25, The North Colonnade, Canary Wharf, London, E14 5HS.