The Business Growth Fund was set up by government in 2011, with money from the banks. It provides growth capital to profitable, mid-sized companies. In 2015 it announced a move into venture, with a
£200m allocation and some industry pro’s to head it up. They tell me the focus is unlikely to be on very early-stage, small projects, but larger and/or later stage, where momentum and scalability are supported with good evidence.
Example companies
FireFly
The online tool that brings together teachers, students and parents. Set homework, track progress, share resources and engage parents.
Why they invested
“There are lots of apps and platforms for schools out there but Firefly has created a complete platform that integrates reminders, messaging, homework setting activities and learning resources.”
Gousto
Gousto, the U.K. cook-at-home recipe kit service that competes most directly with Rocket Internet’s HelloFresh.
Marvel
An all-in-one design platform that aims to make design and prototyping possible for everyone. It’s used by individual designers and teams to help companies put design at the heart of the organisation.
Why they invested
“We’ve watched Murat, Brendan and Jonathan build this business over the last few years and are extremely proud to be joining them on the Marvel journey. We love their obsession with product and their affinity for users. Amazing things happen when technology is used to simplify creative processes and we believe Marvel has the ability to transform the way individuals and teams create great products on a global basis. This is exactly the type of ambition we like to back at BGF Ventures and we look forward to helping the team scale up a business that already has an impressive and loyal user base.”