£150 million invested in South West firms as growth fund hits landmark

Stephen Welton

Stephen Welton

Business Growth Fund has passed £1 billion in committed investments to businesses across Britain following an £11 million investment in holiday park operator Coppergreen Developments.

The firm is on track to invest more than £370 million this year, compared to £250m in 2015.

More than 150 small and mid-sized companies have taken BGF funding since October 2011, including Gymbox, Cass Art, Better Bathrooms, Unruly Media, M Squared Lasers, UKCloud, Trunki and Dudson.

More than £700 million of the £1billion has been invested outside of London and the South East.

This has included £186m in the Midlands, £150m in the South West, £215m in the North and £127m in Scotland.

Nationally, BGF invested more than £100 million in the third quarter of 2016, compared to £60m in the same quarter last year. According to Beauhurst, BGF was the top institutional investor in the three months following the EU Referendum by number of deals completed, against a backdrop of an overall slowdown in investment activity.

Collectively, the businesses backed by BGF employ 25,000 people nationwide – a number which would make it the UK’s eighth largest private business employer.

Stephen Welton, CEO, BGF, said: “While growing businesses will be affected in different ways and to varying degrees during the Brexit negotiations and beyond, our long-term approach means that we have no intention of slowing down our new activity or support for the companies we back. Next year is set to be an even bigger one for BGF and I am as excited now as I was in 2011 about the future of BGF, the businesses we support and the UK’s entrepreneurial climate.”