Growth investment

BGF to build on record year by supporting recovery

Simon Welton: ‘excellent performance’

BGF, the growth capital investor, believes it can beat last year’s record performance as it supports companies emerging from the lockdown.

The group backed 61 firms in 2020, with an 11% rise in investment to £384 million.

It was also a good year for exits with BGF generating returns of £228m. 

The group made a year-end operating profit of £346m, reflecting ongoing growth in its underlying portfolio and realisations.

It is now looking to surpass those investments by targeting businesses that have outgrown the kind of early-stage funding available for start-ups, but have not yet achieved the scale of large, listed businesses.

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They also include the thousands of companies who may be over-indebted as a result of the pandemic. BGF is committed to supporting scaling businesses and believes that equity funding must be part of the solution to meeting these companies’ needs. 

Stephen Welton, executive chairman, said: “We’ve gone through what we hope will be a once-in- a-generation event, and learned that with determination, focus and the right allocation of capital, we can achieve amazing things. 

“BGF’s excellent performance during the pandemic demonstrates the strength of our diversified model, our strong regional approach and the resilience of the entrepreneurs we exist to support.

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