LCIF2 is a venture capital fund investing alongside co-investors in businesses that help reduce Greenhouse Gases (GHGs). Investments can be made in eligible small to medium sized businesses (SMEs) operating in England, and in particular in the areas covered by the LCIF2’s partner Local Enterprise Partnerships (LEPs).
LCIF2 is funded by the European Regional Development Fund. The European Regional Development Fund (ERDF) is an investment programme part financed by the European Union.
The LCIF2 programme is operated under the authority of the Ministry of Housing, Communities & Local Government (MHCLG). LCIF2 is part of the UK Government’s portfolio of business support products.
LCIF2 is managed by Turquoise which has an 18-year track record in investment management and corporate finance transactions in Energy, Environment and Efficiency. Turquoise also manages LCIF1.
A joint venture of Norfolk Country Council (NCC) and University of East Anglia (UEA) is the limited partner of LCIF2. The joint venture was mandated by ERDF and MHCLG to deploy the ERDF grant, and appoint a fund manager by competitive tender.
The LCIF2 funding is part of the allocation for financial instruments from ERDF to the New Anglia and Hertfordshire Local Enterprise Partnerships, and the Cambridge & Peterborough Combined Authority.
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