Financial Services Industry
Industry: Email Alert RSS FeedNews in brief: Gresham backs debt firm.
Financial News, October, 2003
Gresham, a UK mid-market firm, has backed Mike Cleary, an entrepreneur, for the second time with [pounds sterling]20m ([euro]29m) of second round funding for 1st Credit, a debt purchase and collection business.Barclays Bank also participated. Gresham backed Cleary's CCI debt collection agency in a buy-out in 1997 and put [pounds sterling]5m towards 1st Credit in the first funding round last year.
Market recovery in sight
Nearly half of private equity specialists have found the investment climate has improved in the previous quarter and are optimistic about the next three months, says a survey by the British Venture Capital Association. Their optimism compares with gloom in previous surveys and suggests the start of a recovery.
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