• Swindon & Wiltshire M&A, deals
• Tuesday January 23 2024
• Author Name: Peter Davison

Business Growth Fund’s South West team invests £70 million in 2023

Almost £70 million was invested into businesses in the South West, Thames Valley and South Wales in 2023 through Business Growth Fund, the investor has revealed.

In 2023, BGF – one of the largest growth capital investors in the UK and Ireland – backed 44 new businesses and invested £430 million across the nations.

BGF is a long-term investor, making initial investments between £1 million to £20 million 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 £9 million in Bristol-based healthcare infrastructure business, Archus, to support its international and domestic expansion plans.

BGS also provided a £3.5 million 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. This deal provided an excellent result for all shareholders.

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.

Pictured: BGF’s Bristol team