REG-Castelnau Group Ltd: Iona Star LP announces the successful first close of its Fund

CastelnauAnnouncement

26/09/2024 07:00

26 September 2024

 

 

Castelnau Group Limited

 

Iona Star LP announces the successful first close of its Fund 

 

Castelnau Group Limited ("Castelnau") is pleased to note that Iona Star LP,
the Castelnau-backed, venture capital fund dedicated to accelerating
technology innovation with artificial intelligence and data, has today
announced the successful first close of its Fund. 

 

Iona Star LP ("the Fund") targets early-stage companies focusing on the
convergence of data and AI and is managed by industry experts across
technology and data. Through successful deployment of their earlier fund, the
Iona Star team has demonstrated their ability to identify businesses capable
of high growth. Castelnau and Frasers Group, the innovative retailer, have
provided financial backing to the Fund and will also be providing strategic
insights and data to enhance the Fund's overall potential.

This first close milestone has secured significant commitments from industry
leaders, with Castelnau and Frasers Group committing up to £10 million each
over the duration of the fund, setting a robust foundation for investments
that will be made globally. A final close is targeted for the fourth quarter
of 2024.

 

Commenting, Richard Brown, CEO of Castelnau, said: "Castelnau Group is excited
to support Iona Star LP and the opportunities the team bring to the Group.
Iona Star plans to invest in a fast-moving segment of the market, with a
management team that brings a successful and proven track record, and we look
forward to seeing the benefits that its investments will bring to Castelnau's
wider investment portfolio - in particular the ability to enhance Castelnau's
technological offering and data."

 

 

Enquiries:

 Castelnau Group                     
 Richard Brown                       
 info@castelnaugroup.com             
                                     
 Phoenix Asset Management Limited    
 +44 (0) 208 600 0100                
 Gary Channon                        
 Steve Tatters                       
 Gina Bocek                          
                                     
 Citigate Dewe Rogerson              
 +44 (0) 20 7638 9571                
 Caroline Merrell                    
 Toby Moore                          
                                     

 



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