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World of Software > News > British Business Bank makes £15m SME commitment – UKTN
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British Business Bank makes £15m SME commitment – UKTN

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Last updated: 2025/07/17 at 4:52 AM
News Room Published 17 July 2025
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The British Business Bank has committed an additional £15m of investment for UK SMEs to a separately managed account (SMA) run by Prefequity.

The new co-investment vehicle will allow private credit firm Prefequity to make larger investments in established, profitable businesses.

It will target companies without existing backing from private equity groups that are looking for growth capital to fuel acquisitions, management buy-outs and capital investment programmes.

“We are delighted our second fund is off to a strong start and immensely grateful to the British Business Bank and our other investors for backing Fund II and the SMA,” said Prefequity managing partner Theo Dickens.

“We look forward to attracting more LPs in further closings with our investment philosophy that combines downside protection from senior secured loans with the opportunity to partner with high-quality management teams through our equity participation.”

The British Business Bank has previously committed £30m to the Prefequity Credit Opportunities II LP fund, which has a target final close of £150m.

“Following the success of its previous fund, we are pleased to continue our support for Prefequity,” said Adam Kelly, managing director and co-head of funds at British Business Bank.

“This new co-investment vehicle will unlock growth for businesses in the UK’s nations and regions, providing them with the flexible debt solutions they need to succeed and reach their full potential.”

Read more: British Business Bank handed £6.6bn of growth capital

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