Growth Capital Partners Fund IV LP exceeded its target of £200m with commitments from UK, European and US institutional investors, including public pension funds, insurance companies and investment management groups.
Four-fifths (80%) of existing investors made further investments, while six new UK and European investors have joined the fund.
- SME fund secures £20m boost
- Business borrowing from banks drops £600m
- £3.6bn increase in business borrowing in March
Garrett Curran, managing partner of Growth Capital Partners, said: “We are delighted with the continued support from our existing investors and pleased to welcome new partners such as British Business Bank Investments Ltd into the fund.
“Investors were very receptive to GCP’s differentiated strategy in the UK lower middle market, which has generated consistently strong returns since 2000.
“With four investments already in, the portfolio Fund IV is off to a promising start and we remain committed to investing in UK SMEs – a key driver of the UK economy.”
GCP will continue to pursue investment opportunities between £5m-30m with entrepreneurial management teams.
GCP has been advised by Macfarlanes LLP and Atlantic-Pacific Capital, Inc.
Catherine Lewis La Torre, CEO of British Business Bank Investments Ltd, added: “Our participation in GCP’s fourth fund will enable additional capital to be invested in promising UK-based SMEs that require growth capital to scale up successfully.”
Leave a comment