BPEC and Newable ventures secure £10m from British Business Investments to support SMEs
- On December 2, 2020
- By GrowthInvest Marketing
Newable Ventures and Bristol Private Equity Club (BPEC) have secured £10m in new funding from British Business Investments, a commercial subsidiary of the British Business Bank, to fund early stage businesses across the UK.
The £10m commitment from British Business Investments’ Regional Angels Programme will be invested by Newable Ventures, in partnership with BPEC, to deliver around £25m of new funding. The commitment will be split between Newable’s Enterprise Investment Scheme (EIS) fund, which supports a diversified UK-wide portfolio of knowledge intensive businesses, and a separate pool to back entrepreneurs and businesses specifically across the South West.
In the past three years, Newable Ventures and Bristol Private Equity Club have participated in more than 60 investments combined, totalling over £40m, and now hold stakes in companies such as Cognism, Hummingbird, Rovco and Inductosense.
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