BGF Invested £69 Million into UK Tech in 2022

The Business Growth Fund (BGF) has revealed that it invested £69m into early-stage tech companies in the UK and Ireland during 2021. This investment was focused on sectors such as deep tech, life sciences, climate, and sustainability.

Andy Gregory, CEO of BGF, said, “In 2021, we saw a broad spectrum of earlier stage opportunities across our focus areas, and it is promising to see the depth of progress that is being made in these burgeoning sectors.”

BGF allocated £38m toward new additions to the BGF portfolio and the remaining £31m to the companies it had already invested in. This investment was seen as an opportunity to support both growth and value creation in these key markets.

The investment from BGF is a sign of confidence in the UK’s tech sector and the potential for it to become a major player in the global market. This announcement is also likely to be a welcome boost for the UK tech industry during a time of economic uncertainty.

In addition to this investment, BGF has also established a £50m Growth Fund, which will be used to help scale up companies that have already received backing from the BGF. This additional support should further bolster the UK tech sector and provide companies with the support they need to continue to grow and develop.

Overall, the investment from BGF is an encouraging sign of support for the UK tech industry and a demonstration of the potential of British firms to impact the global stage significantly.

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