WestBridge holds £50m first close

The fund was launched in May last year, according to unquote" data. The GP is aiming to raise £100m.

WestBridge closed its first SME Fund in 2009, following a two-year fundraising period. It garnered £30m from private high-net-worth investors and institutional investors, including the South Yorkshire Pension Fund. It was also supported by the European Union through its Competitiveness and Innovation Framework Programme, managed by the European Investment Fund.

Investments
The new fund will aim to expand the GP's focus from the Thames Valley, the south west of England, and Wales, where it has traditionally operated, to smaller businesses in the Midlands and the north.

WestBridge Capital's Fund II will invest in profitable SMEs with enterprise values of between £10-20m. The first SME fund included portfolio companies operating in the aerospace, electronics, B2B business services, medical technology, business critical software and HR systems segments.

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• Topics
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• WestBridge Fund Managers
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