The British Business Bank has introduced a £210 million growth fund aimed at small and medium-sized enterprises across the South East of England.
The South East Investment Fund covers Buckinghamshire, Oxfordshire, Berkshire, Hampshire and the Isle of Wight, Sussex, Surrey, and Kent. It offers commercial debt options from £25,000 to £2 million, alongside equity funding reaching up to £5 million.
The debt portion of the fund will be managed by The FSE Group, while Maven Capital Partners will oversee equity investments.
The fund has completed its initial transaction, providing a £250,000 loan to Basingstoke-based energy technology company Process Vision to support its international expansion.
According to regional economic data cited at the launch, the South East accounts for 17 per cent of the UK’s university spinout companies, second only to London. However, the region secured only 5 per cent of total national equity investment by value over the past year.
David Hourican, incoming interim chief executive officer of the British Business Bank, said:
“Today’s launch of The South East England Investment Fund will help to stimulate economic growth throughout the region.
“The South East of England is home to some of the UK’s most innovative technological and scientific businesses and this fund will ensure that businesses have local access to the finance they need to grow, scale and expand.”
Business Secretary Jonathan Reynolds added:
“Small businesses are the bedrock of our economy and a vital part of any high street, whether it’s a tech startup in Surrey or a creative agency in Margate. Making sure that smaller businesses have the backing they need to thrive is a crucial part of creating good growth in every postcode.
“We are determined not to let access to investment be a barrier to success for businesses in the South East. The launch of this fund will help to ensure that small businesses across the South East can grow to match their ambitions, whether that is bringing in new staff, moving into a new base or scaling into an international company.”
The initial £250,000 loan recipient, Basingstoke-based Process Vision, manufactures industrial monitoring systems for the energy sector. Its core product, LineVu, utilises machine vision and automated analysis to inspect high-pressure gas pipelines, helping operators identify fluid contamination. The company has completed trials with National Grid and holds contracts across North America, Europe, and the Middle East.
Image source: SMEWeb
