Bristol Private Equity Club (BPEC) and Newable Ventures have secured £10m in new funding from British Business Investments, a commercial subsidiary of the British Business Bank, to fund early stage businesses across the UK.

The £10m commitment from British Business Investments’ Regional Angels Programme will be invested by Newable Ventures, in partnership with BPEC, to deliver circa £30m of new funding. The new funding will be split between Newable’s Enterprise Investment Scheme (EIS) fund, which supports a diversified UK-wide portfolio of knowledge intensive companies, as well as a separate pool to back entrepreneurs and businesses specifically across the South West.

In the past three years, Newable Ventures and Bristol Private Equity Club has participated in over 60 investments, totalling over £40m, and now holds stakes in companies such as Cognism, Hummingbird, Rovco, and Inductosense.

Cook Corporate Solcitors acted on this transcation for BPEC and have acted on all of their private equity investments since the club was founded in 2016.