Growth capital investor shares 2023 North West successes

Small and medium-sized enterprises (SMEs) in the North West were supported in 2023 with over £55 million of investment from growth capital investor, BGF.

BGF also revealed that business exits in the North West generated a combined Money Multiple of 2.7x in 2023. In total, the firm invested more than £430 million into UK and Ireland businesses, with £115 million going to SMEs in the North West, Yorkshire and North East of England.

Among larger deals made in the region include a £10.5 million investment in guest WiFi technology provider Purple and a £9 million investment in software provider Voicescape.

2023 also saw the investor expand its team in Manchester serving the North West, with the appointments of Jill Williams into BGF’s portfolio team and Helen Bartley in origination. Barry Jackson who led BGF in Yorkshire and the North East will now also lead the North West team in Manchester in a combined head of the North role, following the departure of Neil Inskip. December 2023 also saw BGF accredited as a B Corp.

Barry Jackson, BGF’s head of the North, said:

“BGF’s 2023 investments in the North West have included a number of high-growth and high-quality businesses. Despite the economic backdrop which will continue to create headwinds for many entrepreneurial companies, we are positive about new investment activity over the next 12 months and are confident in the resilience and dynamism of the growth economy in the North.

“I am pleased to be leading BGF’s exceptional investment team in the North West and looking forward to working even more closely with colleagues across our regional offices. On behalf of BGF, I’d like to thank Neil for his many contributions to the organisation.”