FastForward Innovations has been authorised as a closed-ended investment scheme by the Guernsey Financial Services Commission, it announced on Wednesday.
The AIM-traded firm described the move as an "excellent development" for an "innovative growth" company.

"We believe being authorised by the GFSC will make our company a more attractive investment opportunity for institutional funds and private investors alike whilst it is not expected to impact on the company and its operations," said chairman Jim Mellon.

"In an effort to be totally transparent FastForward is now a quoted and authorised fund."

Mellon said the firm's strategy to invest in the technology, biotech and life sciences sectors remained unchanged, and its growing portfolio was described as "evidence of a working strategy".

"We look forward to updating the market on our promising portfolio in the near future," he added.

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