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British Business Investments commits GBP50m to BOOST&Co’s Second Fund

British Business Investments, a commercial subsidiary of the British Business Bank, has committed GBP50 million to BOOST&Co’s second fund, Industrial Lending II.

BOOST&Co is an independent asset manager specialising in lending solutions for high-growth SMEs in the UK. It offers growth capital and venture debt of GBP2 million to GBP10 million to businesses in all sectors, with a focus on software, business services, fintech and cleantech, helping these businesses to deliver on their growth ambitions.
 
In 2019, BOOST&Co opened regional offices in Manchester and Bristol, with plans to open an office in Cambridge later this year. This regional expansion is aligned to British Business Investments’ strategy, which is to increase the overall supply and diversity of finance and reduce imbalances in access to finance to SMEs across the UK, thereby creating more choice and competition in the market.
 
Lance Mysyrowicz, Partner, BOOST&Co, says: “British Business Investments has engaged with us in a practical and commercial manner over the past few months to deliver a substantial commitment to BOOST&Co’s new fund. We look forward to deploying this capital throughout the UK and thank British Business Investments for the faith they have shown in BOOST&Co over the past six years.”
 
Catherine Lewis La Torre, CEO, British Business Investments, says: “Our investment into BOOST&Co’s new fund is a further demonstration of our commitment to promoting greater choice in the supply of lending to smaller businesses. Growth capital and venture debt finance are important options for innovative businesses that want to grow rapidly, as these forms of capital can help them scale-up without relinquishing control. We are pleased to support BOOST&Co as they expand operations across the UK.” 
 
BOOST&Co’s funding comes from large pension funds and British Business Investments, as well as insurance companies. British Business Investments had previously made a commitment of GBP40 million to BOOST&Co’s first fund, which has now been fully invested.

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