Northcote Equity (‘Northcote’), a newly established private equity firm, announces the first and final close of its maiden fund, ‘Northcote Fund I’, at its hard cap of £160 million, only 16 weeks after launching the fundraise.
Northcote specialises in technology and services investments in the UK and Ireland. Taking a high-conviction and flexible approach, the team can support both minority and majority structures, investing up to £30m of equity in buyout and growth capital investments.
Prior to founding Northcote, its founding partners, Matthew Charman, Scott Fairlie and Charles Dale spent nearly a decade together at one of Europe’s best-performing private equity funds. The Fund has attracted commitments from leading institutions, university endowments and family offices based in the US and Europe.
On the successful close of the maiden fund Matthew Charman, Co-Founder at Northcote Equity, said: “Our vision for Northcote has been clear from day one – create the leading boutique manager for ambitious founders and management teams seeking a first-time partner. The time came to leave the comfort of our jobs, take the entrepreneurial leap and refocus on the part of the market we’re most passionate about and believe can generate the highest returns. Ultimately that message resonated very strongly with the investor community, which translated into demand in excess of £300m for the Fund.”
“Our ethos is to keep investing simple and focused,” said Scott Fairlie, Co-Founder at Northcote Equity.
“For us, the simplicity comes through supporting the founders we find truly exciting, and the focus is in sticking to what we know. Today, we’re humbled and proud to be backed by the founders we’ve backed in the past who are investing their own hard-earned capital and are now on hand to guide the next generation of entrepreneurs.”
Charles Dale, Co-Founder at Northcote Equity concluded “We’re incredibly proud of the trust that has been placed in us by such prestigious investors, who share our vision for committing to this part of the market over the long term. We’re well progressed in building an exceptional team at Northcote, alongside our Executives in Residence, and we can’t wait to begin partnering with some of the brightest and boldest company founders in the UK and Irish markets.”
For more information, please visit Northcote Equity's website here
