Business Growth Fund announces that it has committed £2 billion into UK and Irish SMEs from its balance sheet of £2.5 billion.
The landmark capital investment was reached following £7.5m of growth funding for Merseyside-based manufacturer Joloda International, as well as BGF's most active day ever for capital deployment in mid-June, with a total of £48m committed.
In spite of Brexit uncertainty, but consistent with BGF's Ready for Business campaign, more than £160m was invested in the first six months of the year alone, across 55 deals including initial investments and follow-on funding into the existing portfolio.
From scratch, BGF has now backed 285 companies across the UK and Ireland since it was set up in 2011, providing growth funding in every region and almost every sector of the economy, showing the continuing power of the UK's entrepreneurs. Over 70% of the £2bn has been committed to businesses based outside of London and the South East. This has included £300m in the Midlands, £270m in the South West, £500m in the North and £225m in Scotland, powered by BGF's network of 14 offices and the largest nationwide pool of independent directors.
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