
Investments
460Portfolio Exits
104Funds
3Partners & Customers
1Service Providers
3About BGF
BGF (Business Growth Fund) is an active investor in small and medium-sized companies. It supports a range of growing companies - early stage, growth stage, and quoted - across every region and sector of the economy. The company was founded in 2022 and is based in London, U.K.

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Latest BGF News
Sep 3, 2023
Share The Victorian Business Growth Fund, which is managed by Sydney private equity investor Roc Partners, has cut a cheque for insurance repair specialist Skyline Business Group. Victorian Business Growth Fund’s latest investment, Skyline Building Group, is like a mini Johns Lyng. Glenn Hunt It is understood VBGF/Roc have bought a majority stake in Skyline, which specialises in providing insurance-funded repairs to buildings. Its founding family is expected to stay invested and involved in running of the business, as a part of a deal signed on August 31. Sources said Roc had its Melbourne-based investment director Anna Ellis leading the deal. It tapped KPMG and Minter Ellison for advice. Skyline’s family owners were advised by boutique advisory EP Advisors and law firm Marshalls Dent Wilmoth. Skyline has been around since 2016 and is a panel provider for several insurers. Its insurance repairs division picks up work at residential, strata and commercial buildings. The emergency make-safe unit provides technicians capable of responding to fire, flood, storm, burglary and other insurable events around the clock. It also provides restoration services such as water extraction, structural drying and mould remediation. The business sits on the smaller end of the fragmented insurance building repairs industries, where big names include Johns Lyng Group, which is capitalised at $1.8 billion on the ASX. But with Roc’s expertise and the Victorian Business Growth Fund’s backing, Skyline should have greater leverage among similarly sized players. Advertisement The Victorian Business Growth Fund is a 10-year fund, which was endowed with $250 million to invest in small-to-medium enterprises. It targets companies with $5 million to $100 million annual revenue, near-term positive cashflow, and less than $250 million in assets – that find it difficult to get capital to grow. The government appointed Roc as the independent fund manager for the fund, entrusting it with all investment decision-making.
BGF Investments
460 Investments
BGF has made 460 investments. Their latest investment was in Stellar Omada as part of their Seed on September 9, 2023.

BGF Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
9/28/2023 | Seed | Stellar Omada | $5.45M | Yes | 2 | |
9/26/2023 | Seed VC - II | Machine Discovery | $5.47M | Yes | 1 | |
9/14/2023 | Growth Equity | The Avoca Clinic | $7.52M | Yes | 2 | |
9/5/2023 | Growth Equity | |||||
9/4/2023 | PIPE |
Date | 9/28/2023 | 9/26/2023 | 9/14/2023 | 9/5/2023 | 9/4/2023 |
---|---|---|---|---|---|
Round | Seed | Seed VC - II | Growth Equity | Growth Equity | PIPE |
Company | Stellar Omada | Machine Discovery | The Avoca Clinic | ||
Amount | $5.45M | $5.47M | $7.52M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 2 | 1 | 2 |
BGF Portfolio Exits
104 Portfolio Exits
BGF has 104 portfolio exits. Their latest portfolio exit was Amdaris on August 17, 2023.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
8/17/2023 | Acquired | 3 | |||
7/5/2023 | Asset Sale | 2 | |||
7/5/2023 | Merger | 1 | |||
Date | 8/17/2023 | 7/5/2023 | 7/5/2023 | ||
---|---|---|---|---|---|
Exit | Acquired | Asset Sale | Merger | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 3 | 2 | 1 |
BGF Acquisitions
3 Acquisitions
BGF acquired 3 companies. Their latest acquisition was Majenta PLM on July 06, 2018.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
7/6/2018 | Acquired | 1 | ||||
3/26/2018 | Growth Equity | |||||
8/18/2016 |
Date | 7/6/2018 | 3/26/2018 | 8/18/2016 |
---|---|---|---|
Investment Stage | Growth Equity | ||
Companies | |||
Valuation | |||
Total Funding | |||
Note | Acquired | ||
Sources | 1 |
BGF Fund History
3 Fund Histories
BGF has 3 funds, including Business Growth Fund.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
11/14/2017 | Business Growth Fund | $294.87M | 1 | ||
6/1/2015 | BGF Startup Fund | ||||
UK Enterprise Fund (UKEF) |
Closing Date | 11/14/2017 | 6/1/2015 | |
---|---|---|---|
Fund | Business Growth Fund | BGF Startup Fund | UK Enterprise Fund (UKEF) |
Fund Type | |||
Status | |||
Amount | $294.87M | ||
Sources | 1 |
BGF Partners & Customers
1 Partners and customers
BGF has 1 strategic partners and customers. BGF recently partnered with First Derivatives on December 12, 2017.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
12/5/2017 | Partner | Ireland | BGF & First Derivatives support AuditComply A high-growth software company headquartered in Belfast has become the first business to benefit from technology and investment as part of the strategic partnership between First Derivatives and BGF . | 8 |
Date | 12/5/2017 |
---|---|
Type | Partner |
Business Partner | |
Country | Ireland |
News Snippet | BGF & First Derivatives support AuditComply A high-growth software company headquartered in Belfast has become the first business to benefit from technology and investment as part of the strategic partnership between First Derivatives and BGF . |
Sources | 8 |
BGF Team
4 Team Members
BGF has 4 team members, including , .
Name | Work History | Title | Status |
---|---|---|---|
Stephen Welton | CCMP Capital Advisors, TV Travel Shop, Barclays Bank, Equistone Partners Europe, and Panorama Capital | Founder | Current |
Name | Stephen Welton | |||
---|---|---|---|---|
Work History | CCMP Capital Advisors, TV Travel Shop, Barclays Bank, Equistone Partners Europe, and Panorama Capital | |||
Title | Founder | |||
Status | Current |
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