British Business Investments, a commercial subsidiary of the British Business Bank, has committed £50 million to BOOST&Co’s second fund, Industrial Lending II s.a.
BOOST&Co is an independent asset manager specialising in lending solutions for high-growth SMEs in the UK. It offers growth capital and venture debt of £2 million to £10 million to businesses in all sectors, with a focus on software, business services, fintech and cleantech, helping these businesses to deliver on their growth ambitions.
In 2019, BOOST&Co opened regional offices in Manchester and Bristol, with plans to open an office in Cambridge later this year. This regional expansion is aligned to British Business Investments’ strategy, which is to increase the overall supply and diversity of finance and reduce imbalances in access to finance to SMEs across the UK, thereby creating more choice and competition in the market.
Lance Mysyrowicz, Partner, BOOST&Co said: “British Business Investments has engaged with us in a practical and commercial manner over the past few months to deliver a substantial commitment to BOOST&Co’s new fund. We look forward to deploying this capital throughout the UK and thank British Business Investments for the faith they have shown in BOOST&Co over the past six years.”
Catherine Lewis La Torre, CEO, British Business Investments said: “Our investment into BOOST&Co’s new fund is a further demonstration of our commitment to promoting greater choice in the supply of lending to smaller businesses. Growth capital and venture debt finance are important options for innovative businesses that want to grow rapidly, as these forms of capital can help them scale-up without relinquishing control. We are pleased to support BOOST&Co as they expand operations across the UK.”
BOOST&Co’s funding comes from large pension funds and British Business Investments, as well as insurance companies. British Business Investments had previously made a commitment of £40 million to BOOST&Co’s first fund, which has now been fully invested.
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About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc websiteLink opens in a new window.
The funding from British Business Investments into BOOST&Co does not amount to any endorsement or warranty from British Business Investments, the British Business Bank PLC, or the government of the UK.
BOOST&Co creates growth capital, venture debt and acquisition finance solutions for promising SMEs.
BOOST&Co Limited is Registered in England and Wales, company number 07728296 and authorised and regulated by the Financial Conduct Authority, registration number 711918.Back