Bridges Ventures has held the first close of its third sustainable growth fund, at £72m.
Supporters include a new backer, the European Investment Fund (EIF), as well as existing investors, Cooperative Insurance, HSBC Bank plc, West Midlands Pension Fund, South Yorkshire Pensions Authority, 3i, Doughty Hanson, Wittington Investments, Merton College, the R&S Cohen Foundation, SHINE – Support and Help in Education, Lesing Nominees, Richard Oldfield, Sir Harry Solomon, and Martyn Webster.
Bridges Ventures Fund III will provide growth capital to small and medium sized businesses (SMEs) with a focus on impact themes including:
– Underserved Areas,
– Education and Skills, and
– Health and Wellbeing.
The firm is now beginning discussions with other potential investors in order to grow the fund over the coming twelve months.