Growth capital investor VGC Partners has closed its Fund II at £50.3 million, to target UK-based consumer, media and tech companies.
The firm, which currently has about £100 million of assets under management, has been supported by a £30 million commitment from the British Business Bank through its Enterprise Capital Funds (ECF) programme for early stage venture capital. Additional funds have been secured from private investors and high-net worth individuals. The new fund is British Business Bank’s 28th ECF. VGC will be investing between £2 million and £5 million for minority stakes in high-growth consumer, media and technology companies.