Salica Investments has announced Barclays as a cornerstone investor in its £150 million Growth Debt Fund II. The fund aims to provide flexible growth capital to support high-growth, innovation-driven UK businesses.
Fund II’s first close also saw backing from the British Business Bank and West Yorkshire Pension Fund. Barclays’ collaboration with Salica strengthens the fund’s mission to deliver growth-stage debt financing to scaling companies across the UK, enhancing access to capital for the next generation of innovators.
Barclays joined as a cornerstone investor, following Barclays Entrepreneurs Week 2025, underscoring the importance that Salica and this collaboration play in the UK’s innovation economy. This collaboration aligns with Barclays broader Innovation Banking strategy and its continued commitment to supporting ambitious founders in key sectors driving the UK’s innovation economy – including software and IP-rich hardware.
David Hayers, Head of Growth Debt at Salica Investments, said
‘We are delighted to welcome Barclays as a cornerstone investor, joining the British Business Bank and West Yorkshire Pension Fund. Barclays’ commitment is a strong endorsement of our track record in backing fast growing software and IP-rich hardware companies right across the UK. With Barclays support, we can further expand our ability to provide flexible growth capital to some of the country’s most innovative technology businesses.’
Abdul Qureshi, Head of Business Banking at Barclays, said:
‘Barclays is committed to powering the UK’s innovation economy, by helping ambitious founders and innovators scale and grow at pace. We do that through provision of finance as well as growth support via Barclays Innovation Banking and Eagle Labs proposition. We are delighted to be able to further broaden our funding proposition for scaleups through our collaboration with partners like Salica. This new investment into Salica’s venture debt fund will help ensure that the UK’s most ambitious entrepreneurs have access to the venture funding options they need to grow and thrive.’
Andrew Noyons, Managing Partner, Salica Investments, said:
‘We are excited to build on Fund I’s attractive investment performance with this larger successor fund. The Fund’s strategy, with a domestic lending focus, is well aligned with the Mansion House Accord objectives to boost saver outcomes and deliver UK growth. Furthermore, this collaboration strengthens our shared ambition to help the best of the UK’s founders scale globally competitive companies that drive productivity, innovation and long-term economic growth.’
Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, said:
‘Following on from the success of Salica’s inaugural fund, which provided vital capital to high growth businesses across the UK’s Nations and regions, we are excited to continue our partnership by backing Fund II. Venture debt funds like Salica’s Growth Debt Fund can help UK businesses to achieve strong growth without reducing control of their business.’
