Binnie launches EUR 75m enabling technology fund

As …unquote†goes to press it has been reported that Stewart Binnie, former head of Schroder Finance Partners, has launched ForTrust I, a EUR 75m vehicle targeting enabling technologies in the financial services, healthcare and energy sectors. It is understood that up to two-thirds of the fund will be invested in Spain, with the balance expected to support opportunities in the UK and France. The new vehicle will focus in particular on expansion financing deals in the software, middleware and communications segments. Deutsche Bank has supported the new venture with a EUR 2.5m commitment which covered the fund’s initial costs and enabled the holding of a first close in November. Fundraising will continue until October by which time the management expects to have raised EUR 50-75m. ForTrust has offices in London and Madrid, where it is represented by Nicolas Goulet and Roberto Saint-Malo.

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