UK investment fund Business Growth Fund (BGF) has invested a minority equity investment of £10m ($16.2m) into Broadbandchoices.com, a home communications and price comparison service.
The BGF is a $2.4bn government initiative which invests between £2m and £10m into UK businesses backed by five major UK banks: HSBC, Barclays, Lloyds, Standard Chartered banks and Royal Bank of Scotland. Broadbandchoices is the 18th investment by the fund.
Launched in 2005, Broadbandchoices will use the new funds will to aid the promotion of the company’s international expansion. Chris Hodges of BGF with now join the copany’s board in conjuction with the funding.