The British Business Bank Investments Ltd has increased its commitment to an SME investment fund by £20m.
The commercial arm of the British Business Bank (BBB) has backed BOOST&Co’s Industrial Lending 1 fund.
The fund provides venture debt loans of between £2m-8m to innovative companies looking to scale-up with the loans available to early-stage technology start-ups.
BOOST&Co’s Industrial Lending 1 fund has made total commitments of £100m, investing in 33 UK-based SMEs.
The funding boost from the BBB means that the fund can make up to £100m of further commitments to SMEs.
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- British Business Bank announces merger
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