VGC Partners raises £50.25m

The London-based growth capital investor closes second venture capital fund.

VGC Partners has held a final close of its second fund at £50.25 million ($66 million; €59 million). The fund invests between £2 million and £5 million for minority stakes in high growth consumer, media and technology companies based in the UK.

The British Business Bank committed £30 million to the fund, with the remaining capital coming from private investors and high-net-worth individuals.

VGC Partners’ first fund, Velos Partners Fund I, closed at £40 million in April 2014.