Guernsey Finance, the promotional agency for the island's finance industry, has welcomed the launch of the new multimillion-pound Guernsey Investment Fund.
Guernsey's government, The States of Guernsey, is the major seed investor in the fund, providing £25 million backing, and further investment is being sought from the private sector. The fund aims to make a return for investors while investing in projects and companies with a Guernsey focus.
Guernsey Finance Chief Executive Dominic Wheatley said that the move would be a boost for business in the island and was a demonstration of confidence in the island's economic future.
"One of Guernsey's historic traits has been our ability as an island to innovate and we still need to do so today," he said.
"As a financial services industry we need to bring new products and services to market and to find new markets for our traditional products, and we will look to work with the States of Guernsey to be able to realise those ambitions.
"The fund will help to stimulate growth and support business innovation and we look forward to seeing the results of that investment for the benefit of all."
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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