The Business Growth Fund (BGF), the UK’s most active provider of growth capital, has passed £1 billion in investments to entrepreneurial businesses, including 17 Scottish firms.
An £11 million investment in holiday park operator Coppergreen Developments, used to support the acquisition of Dundee-based Pipperdam Golf and Leisure Resort, has brought the amount to the new milestone.
More than 150 small and mid-sized companies have taken the funding since October 2011, with Scottish firms to benefit including Edinburgh-based MorphCostumes, Glasgow’s M Squared Lasers and Keenan Recycling, headquartered in Aberdeenshire.
BGF said it was on target to invest more than £370m this year, up sharply from £250m in 2015. Patrick Graham, of BGF Scotland, said that north of the Border “we know that we have only scratched the surface”.
The companies it backs are privately-owned or quoted on London’s Alternative Investment Market, and typically have revenues of between £5m and £100m.