TDC gets £20m from British Business Investments

The regional debt fund TDC, formerly Tosca Debt Capital, with offices in Manchester, is receiving a £20 million investment from British Business Investments (BBI). TDC invests in SMEs and smaller corporate firms.

“The recent pandemic has adversely impacted every sector of the UK economy and there is no question that smaller businesses have been hit the hardest,” said Gary Davison, founding partner, TDC.

The money was put into TDC’s Impact fund, which has raised £40 million so far to make contributions ranging from £1 million to £5 million. TDC makes investments aimed at generating new jobs, concentrating on Northern businesses.

The TDC fund, run by Vicki Daly and Gary Davison, makes investments in every industry. Founded in 2015, the investor’s portfolio includes Catalis, Silentnight and Plimsoll Productions.

Davison added: “We are committed to staying invested in our community and we hope this new fund will help to address post-pandemic regional imbalances creating new jobs and stimulating growth in the North.”

BBI is a subsidiary of the British Business Bank, the nation’s bank for economic growth. Since 2014, the corporation claims to have invested over £3 billion.

Judith Hartley, CEO, British Business Investments, said: “This £20m commitment from British Business Investments to TDC’s Impact Fund will help growing smaller businesses in the North to access the additional investment capital they need to scale up.

This follows BBI’s recent £5m investment into Chesire-based SFC Capital and a further £5m into fellow Manchester resident Praetura Ventures. “British Business Investments’ objectives are to ensure smaller businesses can access as diverse a range of finance options as possible and to reduce regional imbalances in access to finance.”

TDC is helping a lot of businesses get through difficult situations caused by the pandemic. I’m certain it will keep on succeeding in its endeavours. Best of wishes to the entire team at TDC.

Shishir Gupta, Founder and CEO, StartupLanes

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