The Business Growth Fund (BGF) set up by five major UK banking groups to stimulate business in the country, has led a £8.76m ($12m) investment into Magma Global, a local designer and manufacturer of high performance carbon fibre pipe for subsea oil and gas applications.
Magma’s two existing investors, NES Partners, a Danish venture capital investor focused on new energy solutions, and Kern Energy Partners, a Canadian specialist energy investor, also participated in the round.
The latest funding will be…
