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10th August 2021Praetura Ventures secures £15m commitment from British Business Investments through the Regional Angels Programme
16th June 2021Isomer Capital announces first close of new €100m opportunities fund
3rd June 2021British Business Investments announces new £50m commitment to Apera Asset Management
27th May 2021Deepbridge secures £15m commitment from British Business Investments
24th March 2021British Business Investments announces new £10m commitment to Co-Fund NI through Regional Angels Programme
16th March 2021MML Ireland Announces Close of €135 Million Private Equity Fund Raised for Investment in Irish SMEs
27th January 2021British Business Investments announces new £10m commitment to Syndicate Room
19th January 2021British Business Investments commits €40m to Claret Fund III at first close
22nd December 2020Liberis adds £70m funding and venture debt to grow embedded business finance platform and help SMEs weather the COVID storm
11th December 2020British Business Investments announces new £25m commitment to Haydock Finance
26th November 2020Newable Ventures and Bristol Private Equity Club secure £10m commitment from British Business Investments
11th November 2020British Business Investments – Full year results for the period ending 31 March 2020
11th November 2020British Business Investments – Annual Report 2020
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5th November 2020British Business Investments announces new £30 million commitment to back UK SMEs through Funding Circle’s UK SME Direct Lending Fund
28th October 2020FDC launches new £100 million debt fund with investment from the West Midlands Pension Fund and British Business Investments
28th October 2020Assetz Capital secures additional £25m from British Business Investments
27th October 2020British Business Investments appoints Adam Kelly as new Managing Director
17th September 2020British Business Investments announces £30m Tier 2 investment in Shawbrook Bank as part of a £75 million capital raise
3rd September 2020British Business Investments announces a commitment of up to €75m to new Isomer Capital fund of funds, aimed at early stage venture capital managers
18th August 2020British Business Bank appoints CEO on an interim basis of commercial subsidiaries British Business Investments and British Patient Capital, along with new Chairs
9th July 2020British Business Investments announces a commitment of up to €120m to LGT Capital Partners funds
10th June 2020British Business Investments CEO appointed Interim CEO, British Business Bank
4th June 2020British Business Investments commits up to £40m to Columbia Lake Partners UK LLP’s second fund
13th May 2020British Business Investments commits £35m to Harwood Private Capital UK LP (“HPC UK SME Fund”)
23rd April 2020British Business Investments commits £10m to Startup Funding Club
17th April 2020British Business Investments and Par Equity to deliver £75m of investment to support ambitious entrepreneurs in the regions
20th March 2020Statement from the CEO with regards to the Coronavirus outbreak
13th March 2020Assetz Capital secures £15m British Business Investments funding to help boost UK housebuilding
11th March 2020Budget 2020: British Business Investments Response
4th February 2020British Business Investments commits £50m to fund targeting North and Midlands based businesses
27th December 2019Keith Morgan, Chair, British Business Investments, awarded CBE for services to small business finance
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16th October 2019British Business Investments – Full year results for the period ending 31 March 2019
16th October 2019British Business Investments Annual Report 2019
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12th September 2019British Business Investments commits £10m to Dow Schofield Watts Angels as first partner in Regional Angels Programme
4th September 2019British Business Investments commits up to €100m to Top Tier Capital Partners’ first vehicle dedicated to European Venture Capital
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2nd May 2019British Business Investments commits £50m to BOOST&Co’s Second Fund
6th March 2019Beechbrook Capital’s second UK SME Credit Fund reaches first close at £128m and completes first two investments
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23rd October 2018British Business Investments Annual Report 2018
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1st October 2018Catherine Lewis La Torre appointed CEO of British Business Bank’s commercial patient capital activities
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11th December 2017British Business Investments commits £30 million at the first close of Shard Credit Partners first direct lending fund
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3rd August 2016British Business Bank Investments Ltd partner Beechbrook Capital holds first close on latest private debt fund
20th July 2016British Business Bank Investments Ltd provides £16.5m line to Northwest asset finance provider Kingsway under new expansion capital initiative
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14th April 2016British Business Bank Investments Ltd invests £30 million in first close of CORDET Direct Lending fund
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6th August 2014Making Britain the global centre of financial innovation – £100m extra for British Business Bank Investment Programme
25th February 2014New £40m investment by British Business Bank to support £450m of lending to smaller businesses
We have announced the first facility under our new expansion capital initiative, which supports finance providers who lend to smaller businesses.
The first transaction is a £16.5 million revolving credit facility for KingswayLink opens in a new window, a Cheshire-based asset finance specialist. It is expected to increase Kingsway’s leasing capacity by up to £25m, supporting investment in plant and machinery across the UK.
The expansion capital initiative, developed as part of our Investment Programme, enables us to support the development of diverse debt finance markets more effectively.
Under the new initiative, British Business Bank Investments Ltd can make investments as sole investor, without the need for its investments to be match-funded. The initiative unlocks increased development capital to speciality lenders serving smaller businesses, provided the lenders can demonstrate the funding will leverage additional lending or otherwise be assessed as having a strong fit with the Investment Programme’s overall aims.
Since the Investment Programme began in early 2013, we have committed more than £120m to six asset finance providers.
Keith Morgan, Chairman of British Business Bank Investments Ltd, said:
“We see asset finance as an increasingly important option for smaller businesses looking to grow and invest, as evidenced by our recent Small Business Finance Markets Report, which shows strong growth in asset finance volumes over the last two years. We are keen to introduce more innovative ways to meet the growing demand for this type of finance, in particular leasing and hire purchase for plant and machinery investments.
“We are delighted to support Kingsway with this revolving credit facility through the new expansion capital initiative under our Investment Programme.
“The greater freedom and flexibility we gain from acting as a sole investor will enable us to make an even bigger impact on finance markets serving smaller businesses across the UK.”
Adrian Anthon, Managing Director of Kingsway, said:
“I am delighted that Kingsway is the first UK asset finance company to benefit from the British Business Bank Investments Ltd new expansion capital initiative.
“From our North West base, Kingsway has been supporting UK small businesses for almost 20 years and this new facility will enable Kingsway to significantly increase our lending to small businesses across the UK.”
Simon Goldie, Head of Asset Finance, Finance & Leasing Association, added:
“The expansion capital initiative is an important addition to the British Business Bank’s funding initiatives, and will increase Kingsway’s ability to support smaller businesses through asset finance. We look forward to seeing more FLA member firms working with the Bank to drive economic growth in the UK.”
Asset finance continues to grow in popularity, with the Finance & Leasing Association reporting a growth in asset finance new business – primarily leasing and hire purchase – of 11% in 2015, to £28.1bn (excluding high-value deals), the market’s second consecutive year of double-digit growth. The asset finance industry funded almost 32% of total UK investment in machinery, equipment and purchased software in 2015.
For further information please contact
Tom Nutt, Tom.Nutt@wearesevenhills.com – 0207 199 6191
Scott Shearer, Scott.Shearer@british-business-bank.co.uk
British Business Bank Investments Ltd is the commercial arm of the British Business Bank. It aims to earn a commercial return by investing through providers of finance to smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any advantage from the government.
British Business Bank Investments Ltd is a wholly owned subsidiary of British Business Bank plc, the UK government’s economic development bank. Neither entity is authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The new Business Finance Guide, jointly published by the British Business Bank and the ICAEW’s Corporate Finance Faculty, is a unique guide that sets out the full range of options available for smaller businesses looking to raise finance. It also offers advice to help businesses plan for growth.
Kingsway is an independent provider of asset finance and leasing to UK small businesses, via a network of approved equipment suppliers and brokers. Based in Wilmslow, near to Manchester Airport, Kingsway was founded in 1997 and has been supporting UK small businesses for approaching 20 years.
British Business Bank Investments Ltd supported Kingsway with a £5m investment in February 2015. This £5mn commitment is superseded by the new revolving credit facility announced today.
The British Business Bank enables greater provision of asset and lease finance through a range of interventions. As well as supporting providers through British Business Bank Investments Ltd’s Investment Programme, the Bank is also working with the Finance & Leasing Association to widen the scope of the Bank’s Enterprise Finance GuaranteeLink opens in a new window to include support for asset finance.
Asset finance providers have also benefited from the Bank’s ENABLE Funding programmeLink opens in a new window, which aims to improve the ability of independent asset or lease finance providers to access more competitive funding via the capital markets, thereby increasing significantly the supply of leasing and asset finance to smaller businesses in the UK.
The Enable Funding programme has so far agreed facilities of more than £200 million to three non-bank asset finance providers – Henry Howard FinanceLink opens in a new window (£51 million), LDF (£51 million) and Hitachi CapitalLink opens in a new window (£100 million).BACK