Business Growth Fund (BGF), the UK-based growth equity fund backed by the country’s five major financial services firms, is set to launch a new £200m ($308m) fund that will support technology startups.
BGF was founded in 2011 with a government mandate to invest in UK-based businesses with a turnover between £5m and £100m, taking minority stakes. It has up to £2.5bn of capital from Barclays, HSBC, Lloyds, RBS and Standard Chartered with which to invest.
The new fund will operate…
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