BGF returned more than £600 million during 2025 as it continued to scale its model of patient, minority growth capital across the UK and Ireland.
The growth capital investor said the performance delivered a money multiple of more than 2x, helped by a series of successful exits and continued positive trading across its portfolio.
The London-based firm also paid a £75m dividend to shareholders, supported by the strength of realisations during the year.
One of the standout exits was the sale of OrganOx, described as one of the largest UK MedTech exits on record.
The business had received six follow-on investments from BGF, with the exit generating the investor’s largest-ever return and delivering £175m of proceeds at a $1.5 billion valuation.
BGF also highlighted substantial returns from other portfolio exits, including EnviroTech Monodraught and uPVC sash window manufacturer Victorian Sliders.
Trading performance within its existing portfolio also remained strong throughout the year.
Companies in its growth portfolio grew revenue by more than 10%, while EBITDA increased by more than 20%.
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On the investment side, the UK’s most active investor deployed £416m across the year, investing in 23 new growth deals, completing five new early-stage investments and supporting portfolio companies with 45 follow-on rounds.
The split equated to £280m deployed into new growth investments, £25m into early-stage deals and £111m into follow-on funding.
Among its notable new investments, it backed Nottingham-based Cronofy with £15m to support product development and international expansion.
It also invested £30m in London-based TMT ID to accelerate its growth in the US and advance its mobile identity and fraud prevention technology.
In Scotland, BGF provided £15m to housebuilder Cruden to support sustainable housing delivery and regional growth.
The pledge represents a step up from the £2.3bn BGF invested between 2020 and 2024 and includes at least £300m earmarked for female-powered businesses.
Since launching in 2011, the company has now invested more than £4.7bn in over 650 companies.
Its portfolio has delivered £7.1bn in revenue growth, £1bn in export growth and created more than 27,000 jobs.
“2025 was a strong year for BGF, with landmark exits and continued support for founders across the UK and Ireland,” said Andy Gregory, CEO of BGF.
“Our performance reflects the strength of our regional model and our ability to deploy flexible capital at scale, while providing hands-on support to help businesses grow, create jobs and contribute to long-term economic growth.”