1995-launched private equity firm Livingbridge has raised a £660m investment pot, known as Livingbridge 6, which it will use to back British fast-growth SMEs from a range of sectors.
The company had a notable development a year ago. Having invested £13.5m in sportswear business inov-8 back in 2012, Livingbridge sold its stake after the fitness fashion firm doubled in size.
With a fund of £660m raised, which is its largest to date, Livingbridge will look to get behind companies with values of between £20m and £75m. Although the firm is based in the UK, with offices in London, Birmingham and Manchester, the capital was generated from investors across Europe and the US.
The Livingbridge 6 fund have a large opportunity to make solid returns too, as it will back SMEs across sectors including business and financial services, technology, media and telecoms, consumer, healthcare and education.
“We are delighted to have secured the support of such a high quality international investor base. This is testament to both our strong track record and the significant opportunity that exists to deliver excellent returns backing fast growth UK SMEs,” said Wol Kolade, managing partner at Livingbridge.
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The company hit a large milestone in April as it acquired 100-year-old family-run biscuit business Thomas J Fudge’s. Overall, however, Livingbridge has completed eight deals since the start of 2016 spanning sectors including travel, IT, recruitment and telecoms.
Livingbridge 6 comes following the firm’s £200m Enterprise 2 fund that opened in September 2015, which concentrated on smaller SMEs. With the new fund, companies can expect to receive anything from £2m to £40m.
“The EU referendum result may have injected a degree of uncertainty into the UK economy but SMEs and entrepreneurs have proven time and time again that they are able to adapt and thrive in precisely this sort of environment,” Kolade added.
Article featured in Real Business By Zen Terrelonge first published 5 September 2016