BGF formerly known as Business Growth Fund, describes itself as a long-term patient investor, making initial investments of £1m to £15m for a minority equity stake.
Its investments north of the Border this year include in June ploughing £7m into The Artisanal Spirits Company, owner of The Scotch Malt Whisky Society, as part of its admission to trading on junior market Aim.
The deal follows BGF’s investment in Calnex Solutions as part of the Linlithgow-based, telecoms-focused firm’s initial public offering in September 2020 – Scotland's first stock market flotation in two years.
BGF investments in Central Scotland include £4m into social care provider CSN Care Group; £5.2m in Odro, a Glasgow business that makes video interviewing and engagement software for recruiters; £5m in Fife-headquartered natural pet food producer Bella & Duke; and part of a $4m (£2.9m) investment round in Edinburgh-based Desana, a flexible hybrid workspace platform for global employers.
Furthermore, BGF expects to see continued demand for business funding in the latter half of 2021 as management teams assess their options.
Patrick Graham, head of Central Scotland and Northern Ireland at BGF, said: “Although there are likely to be challenges ahead as government support, such as the furlough scheme, begins to taper, we are confident that the future is bright for ambitious, well-managed growing businesses and we are more than happy to have conversations with teams looking to expand and grow.”