NatWest backs speciality finance venture capital fund

By Roger Baird on 16th April 2019

Alternative Credit

Quilam Capital, founded in 2017, will use the cash to add its existing investments, which are close to £40m.

NatWest backs speciality finance venture capital fund

 

Speciality finance house Quilam Capital has sealed a line of cash from NatWest to fund further investment in fast-growing companies.

The London-based firm, founded by bankers Kieran McSweeney and Marc Sefton in 2017, said the funds will be used to back “new and existing balance sheet investments”.

The business recently completed its seventh investment, which, so far, “has included everything from start-up capital through to full acquisition”.

It added that the value of its investments to date are close to £40m. The finance house said the value of its funding line from Natwest was “a multi-million pound” facility, but would not disclose a figure.

Quilam co-founder McSweeney - a former Barclays, RBS and Morgan Stanley banker with 18 years experience - said: “The first eighteen months of the Quilam journey have proven very successful, and with a pipeline of strong investment opportunities the transaction and support of Natwest is very timely.”

Over the past year, the business has supported the sale of UK and Middle East-focused property consultancy Cluttons to investment house RCapital, provided working capital to Level, a lending boutique that funds family law firms who specialise in divorce, and mezzanine finance to Catfoss Finance, an independent lessor in the UK asset finance market.

Matt Glew, a relationship director in NatWest’s large corporate and institutions business, said: “We are delighted to have closed this new facility with Quilam, who have already proven their ability to source and invest in some exciting companies in the speciality finance space.  We are very much looking forward to developing what I am sure will prove to be a key strategic relationship with Kieran and Marc.”

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