BGF 'top growth capital investor in world' in 2019
The Business Growth Fund (BGF) has revealed its 2019 results, which it claims makes it the number one growth capital investor in the world by number of transactions in 2019.
The investor said it has surpassed the £2bn investment milestone, and has now backed 300 companies, with more than £200m invested in 45 new portfolio companies in 2019.
It also reports it has provided a further £144m in follow-on funding across 67 investee businesses.
Founded by Barclays, the investment company’s ‘evergreen’ funding model, sees it recycle proceeds and provide follow on capital to its portfolio.
In just over a year, BGF has also become the second most active investor in life sciences, making five new investments in the sector in 2019.
Looking ahead the firm said that COVID-19 will likely result in a material “short term movement” in the value of the portfolio in 2020, and would rely on net realised gains achieved on exit, as opposed to interim valuation movements.
Stephen Welton, CEO of BGF said: “While the entrepreneurial community at large suffered as a result of Brexit uncertainty, BGF was able to demonstrate the robustness and uniqueness of its model – through a well-capitalised and permanent balance sheet able to withstand unfavourable market conditions.
“…by leveraging the experience gleaned from the last nine years, together with our financial strength, our unique approach and our extensive network, BGF is well positioned to rise to these new challenges. For Britain to thrive post Covid-19 we have to invest to make that happen - because the future cannot be built on debt.”