Investor pumps £70m worth of funding into South West
One of the largest growth capital investors in the UK has invested almost £70m in small and mid-sized businesses across the South West in 2023.
In 2023, BGF as a whole backed 44 new businesses and invested £430m across the UK and Ireland.
BGF is a long-term investor, making initial investments between £1m to £20m for a minority equity stake.
It backs ambitious teams across a range of sectors and funds a variety of growth plans. In 2023, BGF’s South West team provided equity funding to businesses across a wide range of sectors including technology, healthcare, engineering and manufacturing.
Key investments by the South West team over the last 12 months have included a £15.5, investment in Exeter-based industrial supplies business Troy UK, to support its buy and build strategy; and £9m in Bristol-based healthcare infrastructure business, Archus, to support its international and domestic expansion plans.
Additional investments include a £4.5m investment in Machine Discovery, an Oxford-based software company; a £3.4m investment in BN Care, a care home group based in Exeter; and a £3.5m follow-on investment in Operational Solutions Limited (OSL), a leading counter drone technologies business based in Reading.
The South West team’s exit activity in 2023 included BGF’s successful sale of Bristol-based software development and digital services company, Amdaris, to Insight Enterprises Inc.
Ned Dorbin, BGF’s head of the South West and Wales, said: “We are fortunate to have such a range of innovative, growing companies across the region which have proven their resilience over the last year in the face of ongoing economic uncertainty. We are proud to have the opportunity to support these firms, providing strategic guidance and funding at a crucial stage of their journeys.
“During 2024, we’re looking forward to continuing to support ambitious businesses that are primed for strong growth. We’re confident this coming year will bring success for the region’s scaling businesses.”
In December 2023, BGF achieved B Corp status, further bolstering its long-standing commitment to creating a positive impact both within the organisation and across the wider economy.
