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).
EIIF 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.