Specialist direct lender Beechbrook Capital has held a final close of its UK SME Credit fund with commitments in excess of £150m and has completed two new investments.
Beechbrook Capital UK SME Credit I, which backs small and medium-sized businesses in the UK with a turnover of between £10m and £100m and EBITDA of more than £1m, has attracted investors from across the UK, Continental Europe and North America.
The fund is already more than 30 per cent committed.
Led by Jon Herbert, Beechbrook managing director, the fund has invested in 2Excel Aviation, an innovative business in the aviation sector, and Cloud Direct, a cloud migration and management company.
Founded in 2005 by Andy Offer and Chris Norton, and based in Northampton, 2Excel provides solutions to challenging aviation problems operating across sectors including defence and security, engineering, agriculture, travel and the oil and gas industry.
Founded by chief executive Brett Raynes in 2003, Bath-based Cloud Direct has supported 4,000 small to midsize businesses in switching to cloud computing.