£40m investment fund launched to help early-stage founder-led businesses
Backed by the British Business Bank, the 21st Enterprise Capital Fund was announced by small business minister Margot James
A new £40m investment fund designed to help early-stage founder-led businesses has been launched, small business minister Margot James has announced.
Backed by the British Business Bank, the 21st Enterprise Capital Fund is designed to aid early-stage founder-led businesses.
The fund will be run by growth capital fund Active PE, who focusing exclusively on consumer, leisure and retail businesses, and have previously backed the likes Soho House and Evan’s Cycles.
Keith Morgan, British Business Bank CEO, said:
“This important new fund will enable more UK smaller businesses to get the investment and support they need to scale up successfully.
“Our Enterprise Capital Funds are a significant part of the UK’s early stage venture capital ecosystem, and the establishment of the new Active ECF brings the programme’s total investment capability to over £730m.”
“Small businesses are at the heart of our economy and the whole country benefits when they grow and create jobs for people.
“The government-owned British Business Bank is helping more than 48,000 businesses with over £3.1bn of support, much of it going to those with high-growth potential.”