British Business Bank increases DunPort funding to £90m
The British Business Bank has increased its commitment to DunPort Capital Management to £90m to provide smaller business with flexible debt capital solutions.
This represents an increase of £40m from the original funding amount of £50m, which was first announced last May.
Read more: British Business Investments and DunPort partner on private credit vehicle.
The investment vehicle, called Alder Corporate Credit DAC, co-invests alongside Oak Corporate Credit DAC, which launched in 2021, and Willow Corporate credit DAC, which launched last year.
The vehicle supports firms with a turnover of less than £100m that are wholly or predominantly based, headquartered or operating in the UK.
Read more: Alternative lenders and private debt funds fill SME funding gap
“We are grateful for British Business Bank’s continued commitment increasing our capacity and enhancing our position as a leading alternative debt capital provider in the UK alongside our other core markets of Ireland and the Benelux region,” said Pat Walsh, executive director of DunPort.
“Following our earlier commitment to DunPort, this £40m uplift will enable further support for growing UK businesses, providing them with the flexible debt solutions they require to develop their growth strategies,” added Adam Kelly, managing director and co-head of funds at the British Business Bank.
Read more: British Business Investments: Addressing the SME funding gap
