In the first half of 2021, BGF deployed over £316 million of patient capital investment to nearly 80 businesses across the UK and Ireland. H1 2021 also saw a record 15 exits for BGF, with strong returns generating an average money multiple of 2.5x.
Some of our most successful exits during this period included: Northumberland pharmaceutical firm Arcinova, which was acquired in February by Permira-backed biotech accelerator Quotient Sciences; ATM sector services provider Cennox, acquired by US investment firm York Capital; and Telford-based ReBound, a sustainable technology business which has developed a data platform for e-commerce brands to manage customer returns.
In July, BGF also started to invest alongside the UK Enterprise Fund (UKEF). These deals have included leading a £58 million funding round into Elvie, the women’s health and lifestyle technology brand. BGF established the UKEF alongside Coutts, to provide its clients with access to privately held companies and ambitious entrepreneurs that are transforming their sectors.
“Strong momentum in the first half of the year firmly puts BGF on track to exceed the record-breaking results of 2020. We are thrilled have made our first investments via additional capital from UKEF, continuing to support disruptive and diverse businesses that are challenging the status quo and shaking up the industries in which they operate.”
Stephen Welton, Executive Chair, BGF