Salica Investments has announced that Barclays has joined as a cornerstone investor in its £150m Growth Debt Fund II.
The new investment follows Fund II’s first close, which also included backing from the British Business Bank and the West Yorkshire Pension Fund.
The collaboration marks a key milestone in Salica’s mission to provide growth-stage debt financing to high-potential scaling companies across the UK.
Barclays’ participation follows its Entrepreneurs Week 2025 and aligns with the bank’s broader Innovation Banking strategy, supporting founders in key sectors such as 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 at 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 at the British Business Bank, added: “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.”
