TDC closes second fund at £237.6million
We’ve worked with TDC since its inception in September 2015 and it’s superb to see that fewer than three years since launching, the team have announced the successful close of its second fund at £237.6million.
Testament to TDC’s unique offering and strength in an untapped market is also the calibre of its investors, with Fund II attracting significant new institutional investors including British Business Investments, the commercial arm of the British Business Bank and Strathclyde Pension Fund.
To date, the UK’s only regionally-based and SME-focused independent debt fund has raised funds of c.£330million and invested £160million into 14 growing SMEs.
This capital, which is serving regional markets previously left underserviced by the London-centric lenders, is supporting a range of financial transactions, including MBOs, acquisitions and refinancing, for businesses that collectively employ more than 6,500 staff and turnover c.£2billion.
A fantastic result for the TDC team, who continue to grow far quicker than first anticipated, and we’re excited to profile TDC’s ongoing deals and milestones as the team deploys this funding across ambitious regional SMEs.