Accelerator Directory / Funding London Limited

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.

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 (LDA), European Regional Development Fund (ERDF) Programme and the European Social Fund (ESF).

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. Since spinning off, there have been two major events:

GRANTS:

1. EUROPEAN REGIONAL DEVELOPMENT FUND (2007–2013):
In September 2011, Funding London was awarded a new grant from the ERDF (2007–2013) to invest alongside available fund returns for the creation of a new early stage equity fund for London SMEs.

2. GROWING PLACES FUND
In 2014, we won the Growing Places Fund Grant of £25m which was used to setup the London Co-Investment Fund.

FUNDS:

We support London’s businesses by partnering with “best of breed” fund managers to invest our funds. Each fund targets a section of London’s early stage and small business community for whom there exists a funding gap:

THE LONDON CO-INVESTMENT FUND
Budding tech and science start-up businesses in the capital who are looking to raise the finance they need to take their business to the next level can now take advantage of a venture capital fund for small businesses. … is supported by £25m from the Mayor of London and up to £60m from our partners. STATS Jan 2015 - Nov 2016: Amount Invested: £11m. Jobs Created: 461. Companies Funded: 67. Co-investment Multiple: 6x. Total Funding Raised: £75m

CAN Early Intervention Fund
We invested …. 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 - Sep 2016: Loans Committed: £678,745. Companies Funded: 12. Jobs Created:43. Lives impacted via education, job skills & self-help: 105."

Registered Address

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

Contact Details

Key Data

Sector
8775 Specialty Finance
Company Number
09011852
Type
Private Limited Company
Company Age
4 years
Incorporated
April 25, 2014
Status
Active
Nature of Business
74990 - Non-trading company non trading
Year End
March 31
Accounts Due
December 31, 2019
Latest Accounts
March 31, 2018

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