Set up by Britain’s top six banks Business Growth Fund will have £2.5bn of capital to invest in small and medium-sized firms.
Hear BGF’s CEO, Stephen Welton explain why there’s a need for this new investment company, founded with Government support and capital from Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland, Santander and Standard Chartered
SME’s employ 60% of the UK’s private workforce but the current economic climate is having a severe impact on businesses seeking finance.
As the economy begins to recover, in the medium term, many SME’s could experience problems accessing growth capital. The BGF, by offering equity investments of between £2m and £10m to small and medium-sized companies, is aiming help to fill that gap.
Stephen Welton has over 20 years of experience in the private equity industry.
He joined the BGF after 10 years with CCMP Capital (formerly JP Morgan Partners) a global private equity firm.
Stephen was a Founder Partner and member of the investment committee. He has extensive experience as an investor working with private companies, most recently as Chairman of Edwards, the global engineering group headquartered in the UK.
Before this, he was Chairman and CEO of TV Travel Shop prior to its successful sale to a global media group.
He also has 10 years of UK private equity and growth capital experience as Managing Director of Barclays Private Equity and at Henderson Ventures, which he co-founded.
He started his career in banking, has a law degree from Durham University and is a qualified Barrister-at-Law. Stephen became Chief Executive of the Business Growth Fund in 2011.
Growing a business can be daunting. Confidence, experience and know-how , as well as capital, is required. The Yorkshire Mafia has quickly become an impressive source of support for businesses across the region. Intelligent, informed and upbeat, in tough times it is a much needed antidote to the prevailing doom and gloom.
“Providing confidence and capabilities alongside capital is central to BGF’s commitment to support Britain’s fast growing small and medium sized businesses. With £2.5bn of committed funds we have the firepower to make a difference. Our challenge to the owners and managers of these firms is to tell us what they could do today with new capital and our support. We truly believe that looking for external support, from partners who will add expertise and experience to your business, has to become one of the defining characteristics of this recovery.”
Stephen Welton, CEO of Business Growth Fund