Viking Fund Managers, which provides funding for SMEs in Yorkshire and Humber, reported strong trading following the first exit for the £43m Finance Yorkshire Equity Fund.
Over the first three months of 2014, Viking invested over £4m in 12 companies and this level of investment is expected to be maintained over the coming months.
The portfolio includes 38 live investments and Viking said these include some good businesses which should do well for the region and provide significant returns for shareholders.
Viking’s parent company Braveheart Investment Group said Andrew Burton’s team in the Yorkshire and Humber region had a good year.
The team oversaw the fund’s first exit following the sale of Rotherham-based S3 ID to Singapore-listed CSE Global.
S3 ID was the first investment made by the fund and the sale made a return of £3.4m from an original investment of £1.6m, generating a money multiple of 2.2.
Mr Burton, managing director of Viking Fund Managers, said the sale of S3 ID was a landmark deal.
“Part of our work is to ensure that companies can grow and no longer need us. It’s a natural progression for companies to move on,” he said.
He added that some of the group’s Yorkshire investments are growing well.