Lower-mid market tech-focused private equity fund WestBridge III has secured a £34 million commitment from the British Business Bank as it targets high-growth UK technology businesses.

With offices in London, Manchester and Cardiff, the firm invests between £10m and £40m in firms across the country, with a stated focus on backing companies outside of London and the South East.

The funding supports the final close of WestBridge III at its £225m hard cap, following earlier backing for the firm’s WestBridge II fund in 2017.

The commitment will help it continue supporting ambitious founders and management teams through its next stage of growth.