South West Investment Fund launch £200 million growth fund
The £200m South West Investment Fund, aimed at fostering growth and prosperity for small businesses across the region has been launched today by the British Business Bank.
13 July 2023
This is a brand new pot of money offering financial support to SMEs across the region.
Highlights as follows…
- The fund is aimed at fostering growth and prosperity for small businesses across the South West of England (covering Bristol, Gloucestershire, Somerset, Devon, Cornwall, Wiltshire and Dorset).
- The fund will provide early-stage finance for new and growing smaller businesses for expansion, product or service innovation, and new processes, skills or capital equipment.
- It will offer a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million.
- The funding is sector agnostic.
- SWIG Finance will manage the smaller loans part of the fund, from £25,000 to £100,000, for the whole South West.
- FW Capital and FSE will manage the debt (£100k to £2 million) for the north and south of the region respectively. This debt will be unsecured.
- Maven Capital Partners and FSE will manage the equity for the north and south of the region (up to £5 million) respectively.
- Applications for funding are made directly to the relevant fund managers who can be contacted via the SWIF website https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/south-west-investment-fund-swif/
It would be great to see some Gloucestershire businesses successfully securing funding in the next few months.