In a significant move to bolster its Growth Credit Fund, Palatine Growth Credit has appointed Michael Ginn as an Investment Director. This fund, launched in 2024, is dedicated to providing non-dilutive funding to regional, entrepreneurial businesses that exhibit predictable revenue streams and a proven track record of growth alongside institutional equity raising.
Ginn's impressive background includes 12 years of experience in the growth capital and strategic debt solutions teams at Santander, where he developed expertise in financing strategies that cater to small and medium-sized enterprises (SMEs). At Palatine, he will be instrumental in helping these SMEs scale by offering financial support without diluting their equity, thus allowing management teams to maintain control over their businesses.
The strategic rationale behind this initiative is clear: as regional businesses seek to expand, access to flexible, non-dilutive capital becomes crucial. This not only supports growth but also fosters innovation and stability within these enterprises, which are often the backbone of local economies.
Ginn will join a team of four other professionals and will be based in Manchester, where he will actively engage with SMEs to understand their unique financial needs and challenges. The timeline for the Growth Credit Fund's activities is already underway, following its launch in 2024, with immediate efforts to attract potential clients and assess their capital requirements.
The implications of this development extend beyond Palatine and its direct stakeholders. By empowering local businesses with the necessary financial resources, the initiative is expected to stimulate job creation and economic growth in the regions it serves. This could lead to positive market reactions as investors recognize the potential for enhanced performance from supported SMEs.
Furthermore, while specific regulatory approvals are not mentioned in the filing, it is important for Palatine to adhere to any financial regulations surrounding capital provision and investment strategies, ensuring compliance as they move forward. As the Growth Credit Fund gains traction, it will be interesting to observe how this initiative affects the broader market landscape for SME financing.