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.

Download the full report

Companies in the top 100 backed by the British Business Bank

RankCompanyFundMultiple increase in ValuationDescription
2.LystBPC134.8Fashion e-commerce
4.PerkboxBPC52.3Employee engagement platform
7.Improbable WorldsUKIIF, ECF43.1Video game creator
9.SmartUpBPC40.6Mobile peer-to-peer knowledge sharing
11.Push DoctorBPC31.6Medical consultation service
12.SonovateBPC30.0Recruitment contract finance provider
15.Tantalum CorporationECF25.6Cloud-based open marketplace for vehicle-related services
22.HostmakerUKIIF22.0Preperty Management company
24.HilightBPC21.1Fibre optic communications
25.GoustoAngel Co-Fund20.8Online meal-kit manufacturer and retailer
26.TopiaECF20.8Global mobility management company
27.NutmegUKIIF19.6Investment management company
28.First Light EnergyUKIIF19.4Solar panel manufacturer
37.PaddleBPC16.8Software service provider
45.HealxECF14.9Drug matching for rare and genetic diseases
52.Oxford Space SystemsECF12.8Satellite innovator
56.SweatCoinBPC12.5Digital Personal Health
66.TelensaUKIIF10.6Smart city company
69.DividoECF10.4Enterprise SaaS lending platform
71.Blu Wireless TechnologyAngel Co-Fund10.3Silicon IP company
81.Vantage PowerAngel Co-Fund9.5Electric car manufacturer
87.Workable Technology LimitedBPC9.3Online recruitment software
89.FATMAPECF9.2Outdoor activity sharing platform
90.Receipt BankUKIIF9.2Accounting software
95.SeedrsBPC9.0Equity 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).