Altitude calls first close on first fund
Southampton-based Altitude Partners has announced a first close at £7m (€7.7m) on its first fund, which is targeting a £15m total.
- Published 4 May 2011 in Mid Market.
Simon White and Jonathan Simm
Southampton-based Altitude Partners has announced a first close in excess of £7m (€7.7m) on its first fund, which is targeting a £15m total.
The fund, Altitude One was launched last year to provide equity funding for businesses based in southern England. It will focus on investments between £500,000 and £3m into established trading businesses wishing to expand. The fund will also support management buyouts.
The fund received commitments from private investors. It will remain open for the next three to six months.
Altitude Partners was set up by former BDO corporate finance partner Simon White and previous regional director of LDC Jonathan Simm. The fund's advisory panel consists of Michael Joseph, former managing director of LDC, and Angela Lane, a former 3i partner.
“The southern region has always provided a good level of quality businesses for investment. By being based and active in the region, we are close to the investments we make so can use our networks to provide them with enhanced opportunities. Our deal flow is very strong and we are advancing a number of transactions,” commented Simm.