Accelerator Directory / Sme Wholesale Finance (london) Limited (Funding London)

Business Description

Funding London launched its first fund in October 2004 and in the past 10 years we have successfully supported 560 SMEs by investing over £45m via three equity and four loan funds.

We channel funding from Europe and the UK, through appointed fund managers to sustainable and ambitious London businesses. Returns generated from the funds go straight back into the London ecosystem, making investment available to the next generation.

In 2004, the then Mayor of London established SME Wholesale Finance (London) Ltd (now rebranded as Funding London), with a specific long term mandate to support the Economic Development Strategy for London through SME funding activities. Funding London was designed to act as a ‘holding vehicle’ for the Access to Finance Funds. The initial fund was financed by London Development Agency, European Regional Development Fund Programme (2000–2006) and the European Social Fund.

The initial operations and day to day functions were carried out from within the London Development Agency. In September 2009, Funding London was ‘spun out’ of the LDA and operations were handed over to the newly appointed Chief Executive, Maggie Rodriguez-Piza. With increased independence (or autonomy) and the new leadership, we transformed ourselves into a commercial organisation, without deviating from our mandate.

We support London’s businesses by partnering with “best of breed” fund managers to invest our funds:

THE LONDON CO-INVESTMENT FUND
Budding tech and science start-up businesses in the capital … venture capital fund for small businesses. The London Co-Investment Fund is supported by £25m from the Mayor of London through the London Economic Action Partnership (LEAP) and up to £60m from our partners.

STATS Jan 2015 - Oct 2018
Amount Invested: £19.6m
Jobs Created: over 1,000
Companies Funded: 125
Co-investment Multiple: 7.2x
Total Funding Raised: £160m

CAN EARLY INTERVENTION FUND
We invested in the Early Intervention Fund launched by CAN Invest with UBS in September 2015. The Fund aims to help VCSEs accelerate positive early intervention impact on young people (0-24yrs) in East London's communities.

STATS Apr 2015 - July 2018
Loans Committed: £834,745
Companies Fundeed:16

Registered Address

First Floor Aldwych House
71-91 Aldwych
London
WC2B 4HN

Contact Details

Key Data

Sector
8775 Specialty Finance
Company Number
05165896
Type
Private Limited by Guarantee/No Share Capital
Company Age
15 years
Incorporated
June 29, 2004
Status
Active
Nature of Business
64303 - Activities of venture and development capital companies
Year End
March 31
Accounts Due
December 31, 2020
Latest Accounts
March 31, 2019

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