1. ITV Report

Guernsey Investment Fund contributes more than £4 million to local businesses

The fund was launched by the States in February to boost the island's economy. Credit: New investment in Guernsey

The Guernsey Investment Fund has contributed more than £4 million to local businesses and projects since being launched by the States in February.

The fund aims to deliver long-term capital growth for shareholders, including the States of Guernsey, who have committed to investing up to £25 million in the project.

Investments made this year start from £100,000 and include acquisition of equity and structured loans.

Nine more proposals are currently being considered.

Those in charge of managing the fund say it is proving popular with local businesses.

We always expected considerable interest from potential investees and the due diligence undertaken before the fund launched suggested that there would be demand for a fund to support innovation that could benefit the Bailiwick. The calibre of applications received supports that expectation and it is encouraging to see the range of applications we have received.

The Bailiwick has some fascinating and forward-thinking businesses and projects and there are a large number of prospective investments, which are based outside the Bailiwick, which can also lead to material spin off benefits for the islands.

– Gilbert Chalk, Guernsey Investment Fund