The Foresight Williams Technology EIS Fund offers investors the opportunity to invest into a portfolio of companies developing innovative and transformational technologies. Tony McDonough reports.

Hi-tech firms in the North West can apply to a new £20m investment fund that also includes access to Formula One motor racing technology.

Private equity firm, Foresight Group, has teamed up with Williams Grand Prix Engineering with a plan to invest into at least 10 small and medium-sized enterprises.

Earlier this week Foresight announced a £3m investment into Med Imaging Healthcare based in Knowsley.

The Foresight Williams Technology EIS Fund offers investors the opportunity to invest into a portfolio of companies developing innovative and transformational technologies.

They will benefit from Williams’ technical, engineering and commercial expertise to accelerate their respective technologies towards commercialisation.

It will enable investors to qualify for relief under the UK Government’s Enterprise Investment Scheme.

Foresight chairman Bernard Fairman said: “The unique combination of Williams and Foresight is expected to result in a diversified investment base of no fewer than 10 companies revolutionising their respective markets and delivering strong returns to investors.”

Craig Wilson, managing director of Williams Advanced Engineering, added: “We are very excited to be collaborating with Foresight to support exciting technology innovations across a spectrum of engineering challenges.

“At Williams we have been at the forefront of technological innovations for 40 years, and with Williams Advanced Engineering we are now commercialising what we have learned across a growing range of sectors.

“We will be using our Formula One platform and technical expertise to assist those portfolio companies with disruptive technologies selected by Foresight, to help them transform their industries.”