Cardiff, and London, UK-based WestBridge Capital has held the final close of the WestBridge SME Fund at £30m (approximately $47.7 m).
Supporters include private high net worth investors and institutional investors including the South Yorkshire Pension Fund. The fund is also backed by the European Union through its ‘Competitiveness and Innovation Framework Programme’, which is managed by the European Investment Fund.
The vehicle, which has already supported a number of businesses, including the MBOs of Kallidus, Aero Stanrew and Energist Group, is considering a pipeline of future opportunities.
Formed in 2008, WestBridge typically invests up to £5m in fast growing, profitable UK SMEs.
The firm is led by James Wakefield, chairman, Sandy Smart, chief investment officer, Guy Davies, managing partner, and Valerie Kendall, partner.