Fund manager FW Capital has achieved a key milestone, lending £7m to ambitious businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire via the British Business Bank’s South West Investment Fund.
Sixteen businesses across the region have received debt finance via FW Capital enabling them to accelerate growth and create 41 jobs. Businesses who have benefitted from debt finance through the Fund include Mexican inspired restaurant Condesa and Waterhouse Electrical & Engineering.
More recently, the Fund has backed several innovative businesses with their growth plans including Tailfin, a market-leading designer and manufacturer of innovative cycling accessories, accountancy firm Purple Lime Accountancy and specialist tech recruitment firm Firmus Consultants.
David Goodall, Fund Manager FW Capital said: “To reach the £7m mark is a fantastic achievement, enabling sixteen businesses access finance to support their growth, create new jobs, fund expansion projects and fill gaps in working capital. We’ve supported a variety of sectors demonstrating the diversity of businesses across our region. The continued success of the Fund is evident both from the demand for funding from SMEs based across the South West and the growing number of success stories across the Fund’s portfolio. We encourage anyone who is looking to grow and needs financial backing to get in touch.
“Accessing finance can be daunting but our team based in Bristol bring a personal approach and act quickly to understand each business. We provide a dedicated relationship point to support you through the life of the loan. We’ve lots more deals in the pipeline which will help boost the local economy creating more jobs and opportunity for local people. Using the South West Investment Fund, we’re helping to close the funding gap and open the doors for many to achieve sustainable growth.”
Lizzy Upton, Senior Investment Manager at the British Business Bank said: “FW Capital is one of four appointed fund managers who between them are delivering small loans, debt and equity finance across the South West via our £200 million South West Investment Fund. We’re delighted to see the fund making such a positive difference to local businesses, supporting their ambitions and contributing to positive economic growth in the region.”
The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead. Fund manager FW Capital provides debt finance using the South West Investment Fund to businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the region. It is increasing the supply and diversity of early-stage finance, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
Find out more at www.southwestinvestmentfund.co.uk
