Barclays joins West Yorkshire-backed Growth Debt Fund
Author: LAPF Investments | Published: November 13, 2025
Salica Investments has announced that Barclays has joined its £150m Growth Debt Fund II, a fund whose backers include the West Yorkshire Pension Fund.
The fund, also backed by the British Business Bank, provides senior secured loans to high-growth companies with a regional focus across the UK in software, IP-rich hardware, and advanced manufacturing sectors.
Coming in as a cornerstone investor, the move aligns with Barclays’ broader strategy to invest in key sectors driving the UK’s innovation economy – including 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.”
Barclays’ head of business banking Abdul Qureshi added: “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.”
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.”
