Fund hands Northern Ireland firms £20m over six years
A UK fund that supports SMEs is working on a pipeline of new deals after ploughing £20m into Northern Ireland firms. The Business Growth Fund (BGF) was set up in 2011 to provide a funding option other than banks for small and mid-sized businesses.
Its portfolio of companies here includes Londonderry-based housebuilder Braidwater and recycling/waste management company RiverRidge Recycling.
In addition to an initial investment of £10m in September, RiverRidge has received a second round of funding.
Patrick Graham, from the BGF, said: "It is extremely pleasing to have reached £20m of investment in Northern Ireland, but the BGF has much higher ambitions in the region.
"We are in discussions with several fast-growing companies regarding investments that will enable them to confidently move forward."