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British Business Investments commits £20m to £100m FPE Capital fund

British Business Investments, the commercial arm of the British Business Bank, has today confirmed a commitment of £20m to FPE Capital LLP’s (FPE) £100m maiden institutional fund.

The FPE fund will invest in high growth UK companies that have an enterprise value of between £20 and £50m, and sets out to partner with management teams to optimise processes, teams and IT systems.

British Business Investments’ commitment is being made under its VC Catalyst programme, which has now made total commitments of over £104m in 10 venture capital funds since its inception in 2013. The VC Catalyst programme supports funds that invest primarily in venture capital, helping them to scale. Its diversified portfolio includes life sciences, energy and resource efficiency across early and growth-stage technology businesses.

Catherine Lewis La Torre, Chief Executive Officer at British Business Investments, said: “Our £20m commitment in FPE’s first institutional fund illustrates our ongoing commitment to supporting innovative scale-up businesses across the UK.

“The recent expansion of our VC Catalyst programme means that British Business Investments is an increasingly significant investor in growth capital, with a strong pipeline of further such investments expected to be made over the coming months.“

David Barbour, Managing Partner at FPE Capital, said: “Since our formation as an independent investor in early 2016, we are pleased to have built an institutional investor base from scratch, and reached our fundraising target of £100m. We are excited to work with British Business Investments, who have a great track record and experience investing in growth capital.”

ENDS

For further information:

British Business Investments

Andy Johnson-Creek, MHP Communications, +44 20 3128 8589, bbb@mhpc.com
Scott Shearer, British Business Bank, Scott.Shearer@british-business-bank.co.uk

About FPE Capital

FPE is a growth private equity investor specialising in lower mid-market UK based companies with advantaged business models that offer significant growth potential in large markets that are undergoing structural change. FPE was established as an independent investor by its management team in March 2016. It is authorised and regulated by the Financial Conduct Authority. www.fpecapital.com

About British Business Investments

British Business Investments is the trading name of British Business Bank Investments Ltd, the commercial arm of the British Business Bank. It aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any advantage from the government. Find out more at bbinv.co.uk.

British Business Bank Investments Ltd is a wholly owned subsidiary of British Business Bank plc, the UK government’s economic development bank, registered in England and Wales, registration number 09091930, registered office at Steel City House, West Street, Sheffield S1 2GQ. Neither entity is authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.