Williams and Foresight team up for tech firms investment
F1 RACING giant Williams and investment group Foresight aim to be first off the grid with a £20 million joint venture designed to fast track promising UK firms with a mix of technical and commercial support.
F1 Racing giant Williams and investment group Foresight director Tom Thorp
The Foresight Williams Technology EIS Fund, which qualifies for tax relief under the Government’s Enterprise Investment Scheme, has a portfolio that will include some 10 firms developing game-changing technologies in sectors such as green energy and health.
The collaboration marks a first for the EIS market place, bringing together the technical expertise of Williams Advanced Engineering (WAE), its services division, and the financial clout of Foresight, an infrastructure and private equity specialist with over £2.1 billion of assets under management and a 30-year record investing in UK SMEs.
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We have grand plans
WAE managing director Craig Wilson said: “We will be using our F1 platform to assist companies to help them transform their industries.”
With investments of up to £2 million on the table, the fund will be a test bed for further expansion, Foresight director Tom Thorp added: “We have grand plans.”