A quarter of the UK’s fastest growing businesses present in British Business Bank’s Equity Portfolio
In a recent report on the UK’s top 100 fastest growing companies, almost a quarter have received equity finance supported by a British Business Bank Venture Capital funding programme.
Companies backed by the Bank include Lyst, the online fashion store in second place, and a total of four businesses in the top 10.
The Top 100 – Britain’s Fastest-growing Businesses 2018 report, that uses Beauhurst data and was produced by Syndicate Room, is measured by the multiple increase in valuation* from 2015 to 2018 rather than the more usual turnover growth. Under this measure, a total of 25 British Business Bank portfolio companies are listed, funded through delivery partners participating in its VC programmes, including:
• The Enterprise Capital Funds (ECF) programme, which targets the early stage equity gap and which has been successful in backing both established and emerging managers
• British Patient Capital (BPC), invests in venture and growth capital to enable long-term investment in innovative companies
• The United Kingdom Innovation Investment Fund (UKIIF), which now sits under British Business Investment, supported the creation of viable investment funds targeting high-growth technology businesses
• Angel Co-Fund, an active co-investment fund which operates independently under British Business Bank oversight, seeks to achieve consistent returns by partnering with experienced syndicates of angel investors to help fund early-stage businesses.
Keith Morgan, CEO of the British Business Bank said: “The presence of so many businesses backed by the Bank highlights the exceptional work of the teams behind these funds and how vital they are in maintaining the supply of finance to ambitious UK smaller businesses.”
The Bank is continuing to deliver high volumes of funding through well-established programmes. these being the Enterprise Capital Funds and the new £2.5bn through British Patient Capital – providing much-needed equity finance.
Companies in the top 100 backed by the British Business Bank
|Rank||Company||Fund||Multiple increase in Valuation||Description|
|4.||Perkbox||BPC||52.3||Employee engagement platform|
|7.||Improbable Worlds||UKIIF, ECF||43.1||Video game creator|
|9.||SmartUp||BPC||40.6||Mobile peer-to-peer knowledge sharing|
|11.||Push Doctor||BPC||31.6||Medical consultation service|
|12.||Sonovate||BPC||30.0||Recruitment contract finance provider|
|15.||Tantalum Corporation||ECF||25.6||Cloud-based open marketplace for vehicle-related services|
|22.||Hostmaker||UKIIF||22.0||Preperty Management company|
|24.||Hilight||BPC||21.1||Fibre optic communications|
|25.||Gousto||Angel Co-Fund||20.8||Online meal-kit manufacturer and retailer|
|26.||Topia||ECF||20.8||Global mobility management company|
|27.||Nutmeg||UKIIF||19.6||Investment management company|
|28.||First Light Energy||UKIIF||19.4||Solar panel manufacturer|
|37.||Paddle||BPC||16.8||Software service provider|
|45.||Healx||ECF||14.9||Drug matching for rare and genetic diseases|
|52.||Oxford Space Systems||ECF||12.8||Satellite innovator|
|56.||SweatCoin||BPC||12.5||Digital Personal Health|
|66.||Telensa||UKIIF||10.6||Smart city company|
|69.||Divido||ECF||10.4||Enterprise SaaS lending platform|
|71.||Blu Wireless Technology||Angel Co-Fund||10.3||Silicon IP company|
|81.||Vantage Power||Angel Co-Fund||9.5||Electric car manufacturer|
|87.||Workable Technology Limited||BPC||9.3||Online recruitment software|
|89.||FATMAP||ECF||9.2||Outdoor activity sharing platform|
|90.||Receipt Bank||UKIIF||9.2||Accounting software|
|95.||Seedrs||BPC||9.0||Equity crowdfunding platform|
* The growth in valuation was calculated by finding the multiple of the starting valuation that the end valuation represents (e.g. a company with a pre-money valuation of £1m on 30/6/15 and a pre-money of £10m on 30/6/18 would have 10x multiple).