€60m private equity fund targets smaller businesses

Causeway will also invest up to €10m in overseas firms with growth potential in Ireland

At the launch of the Causeway Capital  Fund  in Dublin were (from left): Eugene O’Callaghan, director of  Ireland Strategic Investment Fund; Ray Fitzpatrick, head of equity investment at AIB;  and David Raethorne and Matt Scaife, partners at  Causeway Capital.  Photograph:   Maxwell’s

At the launch of the Causeway Capital Fund in Dublin were (from left): Eugene O’Callaghan, director of Ireland Strategic Investment Fund; Ray Fitzpatrick, head of equity investment at AIB; and David Raethorne and Matt Scaife, partners at Causeway Capital. Photograph: Maxwell’s

 

A new €60 million private equity fund is targeting fast-growing small and medium businesses in Ireland and Britain. The Causeway Capital Partners IL Fund will provide investments of up to €10 million to Irish SMEs with strong growth prospects, as well as overseas companies with the potential for growth in Ireland. It operates from offices in Dublin and London and has plans to expand its team in both locations.

The Causeway fund has attracted investments from the Ireland Strategic Investment Fund and AIB together with a number of private investors.

Causeway Capital was founded last year with the aim of offering “straightforward funding solutions” and strategic support to management of established SMEs.

Founders David Raethorne and Matt Scaife were previously involved with a number of successful SMEs, including Helix Health and Smiles Dental.

To date, the company has completed significant investments in Irish SMEs – BB’s Coffee and Muffins and Bizimply, the latter deal announced last week.

“Irish SMEs are some of the most innovative, successful and resilient businesses,” Mr Scaife said. “There is a real need for this sort of funding to help them grow in Ireland and overseas.”

Mr Raethorne said they had experience “founding and growing these types of businesses in Ireland and the UK and understand the opportunities and challenges they face”.