The British Business Bank’s South West Investment Fund has marked its 100th deal in the region, having driven over £40m of investment into new and growing businesses across the South West since its launch last year.
The fund is part of the government-backed British Business Bank’s £1.6bn suite of Nations and Regions Investment Funds (NRIF) which aim to boost the strength of the UK’s SME sector and long-term economic growth. NRIF offers a range of commercial finance options with smaller loans from £25,000 to £100,000, debt finance from £100,000 to £2m and equity investment up to £5m.
The South West Investment Fund’s 100th deal is a £750,000 equity investment in Tom Parker Creamery via appointed fund manager Maven Capital Partners.
The investment means the fund has delivered more than £20m directly into smaller and medium-sized businesses in the South West, leveraging a further £20m from the private sector, totalling more than £40m overall.
Jody Tableporter, director UK & regional funds at the British Business Bank, said: “We’re thrilled to see the South West Investment Fund make its 100th deal, delivering over £40m of investment since its launch last year. The volume of investments underscores the strength and ambition of growing businesses across the South West, and the critical and catalytic role of the fund in providing the capital needed for these businesses to innovate, expand, and create lasting impact in their communities.
“The latest investment in Tom Parker Creamery highlights our commitment to supporting sustainable, growth-oriented businesses in a broad range of sectors across the region.” Other investments by the South West Investment Fund over the last year span digital, tech, healthcare, pharmaceuticals, renewable energy, manufacturing, virtual reality, communications and hospitality.
Founded in 2018, Tom Parker Creamery is a producer of free-range milks and creams from British grass-fed herds. Based at Wincanton in Somerset, the business produces natural, fully traceable, and sustainable dairy products. These include its unique free-range vitamin enriched whole milk; a flavoured free-range milk range; and free-range cream products, all sold in nostalgic glass bottles.
The company serves several of the major retailers including Waitrose, Sainsbury’s, Tesco, and Ocado.
Investment from the fund has supported the relocation to a larger facility, allowing for a significant increase in production capacity as the company continues to grow its customer base. The funding will also provide additional working capital, enable the business to increase its headcount, and support further product development.
Rob Yates, CEO of Tom Parker Creamery, added: “We’re extremely excited to be working with Maven and the South West Investment Fund to help take our business to the second phase of our growth plan. With the current rise in awareness of ultra-processed foods, our range of award-winning products made with free-range British whole milk and natural ingredients mean we’re well positioned to satisfy consumer demands in this area. With this support, the investment enables us to deliver our ambitious plans and meet the rising demands from major retailers and consumers.”
Rafi Khan, investment manager at Maven, said: “Tom Parker Creamery has carved out a unique space in the dairy market, driven by its commitment to high-quality, sustainably sourced products. CEO Rob has built a strong brand, and we’re excited to back him and his team as they scale up and bring their exceptional products to more customers. The South West Investment Fund is there to support businesses just like this to grow whilst making a positive impact on the wider local economy.”
