Guernsey firms Carey Olsen and Northern Trust have assisted Emerald Technology Ventures, a global pioneer in industrial technology investments, on the launch of its fourth venture fund, Emerald Industrial Innovation Fund LP (EIIF).
The Guernsey closed-ended scheme will invest in parallel with Emerald's other active fund, Emerald Cleantech Fund III, in early and expansion stage companies in the energy, water, advanced materials and industrial IT sectors. Unlike most other closed-ended funds that have a fixed term, EIIF has adopted an innovative structure that will allow investors to invest on a rolling basis. This investor-focused approach is matched by Emerald's open innovation platform, which promotes enhanced investor engagement.
The Carey Olsen team included Partner David Crosland and Senior Associate Ruth Abernethy who advised on all aspects of the fund's launch. Northern Trust has been appointed to provide fund administration, banking and depositary services for the new fund.
David Crosland said: "The innovative structure that Emerald Technology Ventures has pioneered incorporates some highly-complex mechanics and was an unusual and very interesting project to be involved with."
Belinda Burgess, Head of Northern Trust in the Channel Islands, said: "At Northern Trust, we focus on understanding our clients' core requirements as well as supporting future development plans. We are delighted to continue helping Emerald reach their objectives as they launch their Emerald Industrial Innovation Fund LP."
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