The latest move is part of British Business Investments’ strategy to enhance access to alternative finance for UK SMEs. Credit: Alexander Supertramp / Shutterstock.

British Business Investments, a subsidiary of the British Business Bank, has announced an additional commitment to support Claret Capital Partners through a co-investment fund.

This increased fund commitment is expected to help Claret in backing technology-enabled, high-growth, smaller businesses in the UK.

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It will provide the necessary capital for Claret to further innovate, grow and expand.

European growth debt fund manager Claret Capital Partners has supported more than 175 small and medium-sized enterprises (SMEs) across Europe since 2013.

With over two decades of experience in technology financing markets, Claret offers debt solutions that help entrepreneurs and private equity investors grow their companies with minimal equity dilution.

British Business Investments managing director Adam Kelly said: “This additional commitment will enable Claret to back high-growth technology companies across the UK with capital to innovate and drive growth. By supporting capital providers like Claret, British Business Investments is able to continue to help ambitious businesses achieve their growth potential.”

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The partnership between British Business Investments and Claret has been established over the years, with previous investments in HEGCF II and Claret European Growth Capital Fund III.

The new co-investment fund is part of British Business Investments’ strategy to enhance access to alternative finance for SMEs throughout the UK and to aid in the country’s transition to a net-zero economy.

Since its inception in 2014, British Business Investments has committed over £3.8bn ($4.9bn) to finance providers for UK SMEs.

Claret Capital Partners managing partner David Bateman added: “We are thrilled to announce this further support from British Business Investments in Claret, underscoring our shared commitment to fostering innovation and driving growth in the technology sector.”