The British Business Bank has announced a cornerstone commitment of £40m to FPE Capital’s Fund IV, to support high growth smaller businesses across the UK. 

The Bank previously committed £20m to FPE’s Fund II in 2017 and this latest commitment to Fund IV forms part of a first close which surpasses the total size of the predecessor fund.

This latest commitment is made under the Bank’s growth equity strategy. This expanded mandate enables the Bank to invest in lower-mid-market private equity funds backing smaller businesses that are aligned with the Government’s eight growth-driving Industrial Strategy sectors.