A £100 million fund set up to support Northern Ireland businesses has reached a milestone, deploying more than £44 million into 64 companies since its launch in November 2023. The Investment Fund for Northern Ireland (IFNI), managed by the British Business Bank, has now facilitated 75 investments and attracted more than £62 million in private sector co-investment.

The fund operates through two managers: Whiterock provides debt finance from £25,000 to £2 million, while Clarendon Fund Managers offers equity investments up to £5 million. Sue Barnard, senior investment manager at the British Business Bank, said the fund’s progress shows that businesses across Northern Ireland are seeking capital to grow.

One beneficiary is The Present Tree, a tree gifting company based in Crumlin, County Antrim. Founded in 2013 by Catherine Cunningham, the business raised £1.8 million from Clarendon through the fund. Cunningham said the investment will allow the company to build a new headquarters and expand its senior team, with a focus on corporate gifting and international markets.

The Present Tree currently processes more than 10,000 orders per week and has reached a multi-million-pound turnover. Cunningham said the company aims to become a leading garden gifting business in the UK, Ireland, and Europe.

Barnard highlighted that deals have been completed across Northern Ireland, not just in Belfast and other major urban centres. She said the fund is designed to support businesses of all sizes and sectors, with the goal of driving sustainable economic growth across the region.