The British Business Bank has achieved a new funding landmark, supporting innovation and economic growth in the South West.
- A total of £5 million has been delivered to 10 businesses in the region within the first quarter of the year.
- Changing Social Limited, a digital consultancy, has raised £1.6 million in equity funding through Maven Capital Partners.
- Additional recipients of this fund include Rockfish and Kelp Industries, highlighting diverse growth across sectors.
- The fund aims to empower local businesses, encouraging further exploration of opportunities for growth and innovation.
In a remarkable achievement, the British Business Bank has reached a £5 million funding milestone within the South West region, supporting 10 businesses from Plymouth to Cheltenham in the first quarter of the year. The fund, managed by Maven Capital Partners and FSE Group, is part of an initiative to foster innovation and stimulate economic growth throughout the region.
Changing Social Limited, a digital consultancy founded in 2018, is the latest beneficiary of this initiative, securing £1.6 million to drive its expansion plans. The firm, which integrates Microsoft technology to enhance organisational capabilities, plans to utilise the funding to boost staffing at its Bristol headquarters and expand its reach both within the UK and internationally.
Luke Matthews, a partner at Maven Capital Partners, remarked on the investment’s significance, stating, “We’re delighted to invest in Changing Social, a company that exemplifies a robust growth potential and a strong management ethos.” His sentiments were echoed by Steve Crompton, CEO of Changing Social, as he highlighted the role of this investment in scaling operations and enhancing service delivery, particularly in the AI and digital transformation sectors.
Other notable recipients of the South West Investment Fund include Rockfish, which secured £1.25 million to support its growth strategy involving new site openings and retail expansion, and Bristol’s Kelp Industries, innovating in sustainable packaging solutions, which received £500,000. These investments underline the fund’s comprehensive approach to supporting sustainable and technological advancements across varied industries.
Jody Tableporter, a director at the British Business Bank, emphasised the critical role of the South West Investment Fund as an enabler of business growth within the region. She encouraged businesses contemplating their next growth steps to consider the opportunities provided by the fund as a means of unlocking new potentials.
The British Business Bank’s investment highlights the dynamic potential of the South West, fostering growth and innovation through strategic funding.
