Blazehill Capital, a credit opportunities debt fund, is launching its new £250m Fund II, just two years on from the launch of its maiden fund.
With £250m in fresh capital from leading global investor, InterVest Capital Partners, Fund II will build on the success of Fund I, focusing on the mid-market and providing facilities of between £5 to £50m.
The fund will also support the business’ wider growth strategy, which aims to build a market leading platform with £1bn worth of assets under management over the next five years.
Tom Weedall, managing director at Blazehill, said: “The close of Fund II marks an important milestone for us, having only launched our maiden fund two years ago.
“This new strategic partnership with InterVest Capital Partners positions us well in continuing to support the UK’s mid-market with transformational capital, as well as working with key introducers and maintaining our strong funding partner relationships.”
He continued: “Particularly given the tougher macro-economic climate of the past year, we’ve seen traditional lenders becoming more cautious.
“However, it is during these times that we tend to thrive at Blazehill. Our approach was built on flexibility, a flat decision-making structure and streamlined credit process, enabling us to deliver certainty of funding from the outset and execute transactions at speed, even during more challenging periods.”
Steven Tenenbayev, chief investment officer at InterVest Capital Partners, added: “We are pleased to back exciting platforms like Blazehill Capital.
“They have made significant progress over the last two years. InterVest looks forward to continuing its partnership with Blazehill and supporting its growth in the UK market.”
Blazehill provides supportive capital to companies requiring new or additional financial support, which they cannot necessarily access from traditional funding sources.
It covers a range of financial transactions including acquisitions, growth capital, refinancings and recapitalisations.
Since its launch in April 2021, Blazehill has already invested into 10 businesses across the UK, including a £43m refinancing package to Butcher’s Pet Care.
The facility was provided in partnership with Secure Trust Bank Commercial Finance, consisting of a £25m revolving ABL facility and an £18m non-amortising bullet repayment term loan.
