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The South East Investment Fund is the latest regional scheme from the British Business Bank (BBB) to support businesses outside of London.
The £210 million fund provides loans from £25,000 to £2 million and equity investments of up to £5 million to SMEs in Buckinghamshire, Oxfordshire, Berkshire, Hampshire and the Isle of Wight, Sussex, Surrey and Kent.
Its first investment was a £250,000 loan to Basingstoke technology company Process Vision.
The South East of England is home to 17% of the UK’s university spinout businesses, behind only London, while the region received 5% of the UK’s total equity investment by value last year.
The bank said the fund will “help to ensure the bridge between academic innovation and market deployment is adequately supported in the region”.
David Hourican, incoming interim chief executive officer of the British Business Bank, commented:
“Today’s launch of The South East England Investment Fund will help to stimulate economic growth throughout the region.
“The South East of England is home to some of the UK’s most innovative technological and scientific businesses and this fund will ensure that business have local access to the finance they need to grow, scale and expand.’
Business secretary Jonathan Reynolds said:
“Small businesses are the bedrock of our economy and a vital part of any high street, whether it’s a tech start-up in Surrey or a creative agency in Margate.
“Making sure that smaller businesses have the backing they need to thrive is a crucial part of creating good growth in every postcode.”
BBB also has investment funds for businesses in Northern England, Wales, Northern Ireland, Scotland, South West England and the Midlands.
An East of England Investment Fund will launch later this month.
