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BGF invests £118m in London and the South East in H1

BGF News 07.27.2021
Tags BGF News

BGF today announces it has backed 18 new companies in London and the South East in the first half of 2021, while continuing to support its portfolio with significant follow-on funding. Total investment in the area reached £118m, including £98m into new portfolio companies, and almost £20m into the existing portfolio in H1 2021.

Following record-breaking results in 2020, BGF sustained its pipeline of new investments in the first half of the year with deals including: award-winning plant-based meat brand, THIS™, sustainable electronics company Cambridge GaN Devices Ltd. (CGD) and energy data business, Stark.

BGF also delivered six successful exits in London and the South East in H1 with an average money multiple of 3x. Successful exits include, independent provider of dialysis services, Renal Services, leading tech-enabled legal provider, Setfords, ATM sector services provider, Cennox, and data security and compliance solutions provider, Semafone.

BGF has continued to fuel the Life Sciences sector in London and the South East, leading a £33m investment round into biopharmaceutical company, PhoreMost and a £7m investment round into biotechnology company, Phico Therapeutics.

In June, BGF broke the £100 million investment milestone in life sciences investment having backed more than 30 businesses nationwide across the fields of diagnostics, medtech and digital health. To support BGF’s continued commitment to the industry, a new specialist advisory board has been created, in order to solidify its position in the life sciences space.

April 2021 also marked a milestone for the investor, as London-based digital advertising firm, Dianomi, became the first BGF portfolio company to complete an IPO – listing on AIM.

“As we continue to navigate the economic impact of the pandemic, it is more important than ever that we demonstrate our commitment to brilliant businesses in London and the South East. We are thrilled to have backed 18 new businesses in the region, in addition to continuing to support the growth of many of our existing portfolio companies.

“The importance of our domestic life sciences industry has been made clear this year, and we are proud to have backed some incredible companies in this sector in London and the South East, and to have reached the £100 million investment milestone nationwide.”

Andy Gregory, chief investment officer at BGF