Cornwall & Isles of Scilly Investment Fund

The fund was operated by the British Business Bank, with an Advisory Board chaired by John Acornley providing oversight. Day-to-day investment management was handled by the Bank's regional team in Sheffield. The Cornwall & Isles of Scilly Local Enterprise Partnership also played a role in aligning deployment with local economic priorities.

No. The Cornwall & Isles of Scilly Investment Fund completed its investment phase in December 2023 and is no longer deploying capital. All new inquiry and deal flow is now handled by the South West Investment Fund, a £200m successor vehicle launched by the British Business Bank in July 2023 and fully opened in March 2024.

CIOSIF provided direct debt and equity finance to SMEs. There is no evidence it made fund commitments to other managers. Its mandate was to address capital gaps by co-investing alongside private sector participants directly into operating businesses in Cornwall and the Isles of Scilly.

The South West Investment Fund is the successor to CIOSIF. When CIOSIF completed its investment phase in December 2023, the British Business Bank had already launched SWIF in July 2023 with £200m to deploy across the entire South West region. SWIF absorbed CIOSIF's pipeline and geographic mandate as a permanent, government-backed regional fund.

CIOSIF was funded by a combination of European Regional Development Fund allocations, UK Government grant funding, and resources from the Cornwall & Isles of Scilly Local Enterprise Partnership. No private limited partner money was raised; it was a fully public-sector-funded economic development instrument.