Craton Capital began in 2003, at a time of low interest rates, low commodity prices and easy credit following the bursting of the tech bubble.

It was also a time of unease following several years of declining equity markets, the 9/11 attacks, and the subsequent Iraq invasion. At the same time, strong growth in China and other emerging economies was beginning to feed a steadily strengthening demand for energy, for raw materials and for food. After a long period of stagnation, all indications were that a commodities boom was approaching.

The Craton Capital Precious Metal Fund was created.

The idea being to capitalise on the expertise of the principals in the sector, focusing specifically on gold and precious metals - an area expected to deliver good returns to investors over time. This sub-sector with around 800-900 investable companies, out of a total commodities universe of over  8,000, was one in which Craton Capital could establish a credible presence.

Over the next few years, as the fund continued to grow, the company began to look for additional opportunities to put its investment philosophy into practice. Success enabled expansion, and expansion made the wider commodities universe accessible. In 2008, the Global Resources Fund was set up.