Walkers Advises £38 Million Guernsey Investment Fund on its Largest Investment Yet

Walkers' Guernsey team has advised the £38 million Guernsey Investment Fund ("GIF") on its largest investment to date.

GIF, which is majority owned by the States of Guernsey, targets opportunities for long-term capital growth through investments which have a Bailiwick of Guernsey focus or which the board and its investment manager, Ravenscroft, view as having potential benefits for the development of the Bailiwick. Its Technology & Innovation Cell invests in a diversified portfolio of technology companies and innovative companies which have the potential to create new or disrupt existing industries.

A team led by Funds partner Kate Storey has acted as lead counsel on GIF’s latest cornerstone investment, which has taken it past the point of investing more than half of its committed capital.

The fund does not publicise individual investments, but has confirmed that it has funded 11 projects since launching 18 months ago, including two large cornerstone investments, with values ranging between £100,000 and many millions of pounds.

Investments have been made by way of both equity acquisitions and structured loans. More than 100 applications for funding have been made to GIF, and the successful applicants have included both established companies and start-ups.

Kate led a Walkers team including Stephen Ozanne (Regulatory and Technology), Wandi Sishi and Mark Finlayson (Corporate), Louise Hall (Employment) and Sarah Brehaut (Litigation and Commercial Property).

Kate said: "We are pleased to have advised the Guernsey Investment Fund on its largest investment to date, which utilised Walkers’ expertise across several specialisms, including Funds and M&A, Technology and Intellectual Property.”

"Because so much of our work is international, it is interesting to be involved in an initiative which has so much potential to support and enable economic activity here in the Island, and we look forward to continuing to work with the fund."