UK Private Capital Celebrates the British Business Bank's Support for Smaller Businesses

The UK private equity market is a vital component of the country's economy, providing crucial capital and expertise to help businesses grow and succeed. And this week, leaders from UK Private Capital, an industry body representing British firms in the private equity market, are celebrating a significant development in the sector.

In line with its growth equity strategy, the British Business Bank, a government-owned development bank, announced a £60 million commitment to Manchester-based private equity firm NorthEdge's latest fund. This move not only shows the government's commitment to supporting high-growth companies in sectors like technology but also highlights the importance of public and private investment in these businesses.

The British Business Bank's new equity strategy allows them to invest in private equity funds backing smaller businesses, providing crucial scale-up capital and expertise. This change in mandate has been long-awaited and highly praised by industry leaders, including Michael Moore, CEO of UK Private Capital.

In this blog, we will delve into the details of this exciting development and see how it will benefit the UK private equity market and smaller businesses.

UK Private Capital: A Leading Voice for the Private Equity Market

Formerly known as the British Private Equity and Venture Capital Association (BVCA), UK Private Capital has been representing the private equity industry since 1983. With over 600 member companies, they are a leading voice for the sector, advocating for policies and initiatives that support its growth and success.

In addition to celebrating the British Business Bank's latest move, UK Private Capital has also made headlines recently with their decision to rebrand to better reflect their role in the market.

A Boost for Smaller Businesses

The British Business Bank's decision to support NorthEdge's latest fund is just the first cornerstone investment under their new growth equity strategy. This move will provide much-needed capital and expertise to smaller businesses, unlocking their potential for growth and success.

The government's focus on investing in high-growth companies in sectors like technology is a crucial step towards boosting the country's economy. And with the backing of the British Business Bank, private equity firms like NorthEdge can continue to support these businesses and drive economic growth.

A Shared Commitment to Growth and Innovation

The British Business Bank's investment in NorthEdge's fund is just one of many recent investments that showcase their commitment to working alongside the private equity industry. This partnership between the government and private sector is crucial in driving growth and innovation in the UK.

UK Private Capital's CEO, Michael Moore, emphasized the importance of this collaborative effort, stating, "Today's announcement builds on a series of similar recent investments by the Bank to showcase its commitment to working alongside industry to help grow and scale innovative companies in the UK."

In Conclusion

The announcement of the British Business Bank's investment in NorthEdge's latest fund is a significant development for the UK private equity market and smaller businesses. It highlights the government's commitment to supporting high-growth companies and the importance of public and private investment in driving economic growth.

As UK Private Capital continues to advocate for policies and initiatives that support the private equity market, we can expect to see more positive developments like this in the future. The partnership between the government and private sector is crucial in driving growth and innovation, and this move is a testament to that.

Source: https://www.uktech.news/news/uk-private-capital-celebrating-bbbs-new-equity-strategy-20200110