BGF releases 2019 results, reports operating profit of £133m

In 2019, the UK-focused lower-mid-market investor reached an amount of £2bn invested since its foundation, with more than 300 companies backed in total.

Last year, the firm invested more than £200m in 45 new companies and provided a further £144m in follow-on funding across 67 portfolio businesses.

It recorded total net assets of £1.8bn against £1.5bn in 2018, alongside capital and reserves of £1.6bn against £1.5bn in 2018. BGF reported operating profit of £133m for 2019.

The firm recognises that, in addition to presenting new opportunities to invest, the coronavirus situation will "likely result in a material short-term movement in the value of the portfolio in 2020", according to a statement.

BGF employees are working remotely and, in addition, the firm has committed to making donations totalling £100,000 to support local community-based charities across the UK and Ireland.

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• BGF (Business Growth Fund)