Exclusive: ThinCats builds £300m fund to boost British businesses
A £300m fund has been unveiled by alternative lender ThinCats in order to boost British businesses.
The fund will target ‘high-growth, owner-managed’ companies in London and the South East as well as in the North West and Midlands.
ThinCats is to use its offices in London, Manchester and Birmingham to deploy the capital which is dedicated to helping entrepreneurs running profitable mid-sized businesses.
The firm said the types of companies that it is hoping to attract “remain underserved by traditional lenders as they often have a low concentration of physical assets to act as security”.
Chief commercial officer Mike Hackett said: “The good news is that with inflation continuing to fall and the Bank of England signalling that interest rates may come down later this year, there is far more stability in the market.
“Business owners are now beginning to make decisions again for acquisitions, management buyouts, EOTs or capital restructuring.
“Alternative lenders like ourselves alongside challenger banks and private debt funds are increasingly providing the necessary funding for ambitious, high growth businesses, especially in the regions.
“Working closely with regional business finance communities , we aim to support many more businesses looking to gain access to flexible debt capital to support their growth objectives.”
The announcement from ThinCats comes after a new fund aiming to invest £660m in companies across the North of England was launched by the British Business Bank.
The Northern Powerhouse Investment Fund II will provide loans from £25,000 to £2m and equity investment up to £5m.