About BGF
BGF is a venture capital firm founded in 2011. It is primarily based out of Belfast, United Kingdom. As of Apr 2026, BGF is an active investor, having invested in 492 companies, with 19 new investments in the last 12 months. It primarily invests in Series A round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Retail and High Tech. Most recently it participated in the $***** Seed round of Fivium Overall, BGF portfolio has seen 3 unicorns, 9 IPOs and 135 acquisitions including key companies like GoCardless, Elvie and Gousto. A lot of funds co-invest with BGF, with names like HSBC sharing a substantial percentage of its portfolio. BGF has team of 124 people including 20 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 8 more
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
BGF's List of Top Investments
BGF has a portfolio of 492 companies, including 3 unicorns. Their most notable investments are in MyLife Digital and Kids Planet.Their portfolio spans across United Kingdom, Ireland, United States and 9 more locations. They have invested in Enterprise Applications, Retail, High Tech and 38 other sectors, across stages such as Series A, Series B and 8 more. Here is the list of top investments by BGF:
1. GoCardless
Provider of online platform for automated and instant payment processing. The platform offers tools for collecting one-off and recurring payments. It provides integrations with accounting software and other business systems. The platform includes features for managing payment retries and fraud protection.
Key facts about GoCardless
- Founded Year: 2011
- Location: London (United Kingdom)
- Annual Revenue: £91.9M as on Jun 30, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $540M
- Employee Count: 835 as on Mar 31, 2026
- Investors: Adams Street Partners, Bain Capital Ventures and 25 Others
- Latest Funding Round: Series G, Feb 08, 2022, $*****
- Highlight: Acquired
2. Elvie
Internet first brand offering wearable breast pumps. The portable wearable breast pump is worn inside a nursing bra for allowing women to pump milk, anywhere and anytime. The device is compatible with both Android and iOS devices and allows users to monitor milk volume in real-time, track pumping history for each breast and control the pump remotely.
Key facts about Elvie
- Founded Year: 2013
- Location: London (United Kingdom)
- Annual Revenue: £77.8M as on Dec 31, 2022
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $158M
- Employee Count: 128 as on Mar 31, 2026
- Investors: BlackRock, BGF and 25 Others
- Latest Funding Round: Series C, Apr 26, 2024, $*****
- Highlight: Acquired
3. Gousto
Provider of recipe boxes containing fresh ingredients and recipe instructions. The company delivers pre-portioned ingredients and corresponding recipes on a flexible subscription basis. Customers select meals from a weekly menu with various dietary options. The service aims to reduce food waste and simplify meal preparation.
Key facts about Gousto
- Founded Year: 2012
- Location: London (United Kingdom)
- Annual Revenue: £82.5M as on Dec 27, 2019
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $541M
- Employee Count: 1,087 as on Mar 31, 2026
- Investors: BGF, SoftBank Vision Fund and 40 Others
- Latest Funding Round: Series F, Feb 24, 2022, $*****
- Highlight: Editors' Pick
4. Dice
Provider of online ticketing booking platform. The platform offers tickets services and allows users to purchase tickets via platform. It also provides information on upcoming events and shows such as date, time and location. It allows fans to buy face value tickets to gigs, club nights, and festivals with no booking fees.
Key facts about Dice
- Founded Year: 2014
- Location: London (United Kingdom)
- Annual Revenue: £28.5M as on Dec 31, 2022
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $238M
- Employee Count: 348 as on Mar 31, 2026
- Investors: BGF, Blisce and 40 Others
- Latest Funding Round: Series D, Feb 08, 2023, $*****
- Highlight: Editors' Pick
5. Pharmacy2U
Pharmacy2U is an online pharmacy store in the UK. The company also provides a confidential private online doctor service. The company's web and mobile based platform allow users to search for the required medicine and order. The user needs to upload the prescription Our NHS Repeat Prescription Service takes care of everything to get your repeat prescriptions delivered for free to your door. Our Online Doctor service provides a convenient & confidential GP consultation service. We also offer a wide range of over the counter products & a private prescription service.Regulated by GPhC and the CQC.
Key facts about Pharmacy2U
- Founded Year: 1999
- Location: Leeds (United Kingdom)
- Annual Revenue: £173M as on Mar 31, 2023
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $313M
- Employee Count: 543 as on Jan 31, 2026
- Investors: BGF, Credit Agricole CIB and 28 Others
- Latest Funding Round: Series C, Mar 25, 2020, $*****
- Highlight: Editors' Pick
BGF's Year-on-Year Investment Trends
BGF has invested in 494 companies over the last 15 years, with an average of 35 new investments annually in the last 10 years. In 2025, it made 26 investments, while as of Apr 2026, it has made 4 investments in this year. Its most recent first time investment was in Fivium and most recent follow-on round was in I Q Endoscopes.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 3 | 1 | 4 |
2025 | 19 | 7 | 26 |
2024 | 38 | 11 | 49 |
2023 | 35 | 6 | 41 |
2022 | 36 | 9 | 45 |
2021 | 49 | 10 | 59 |
2020 | 30 | 8 | 38 |
2019 | 24 | 14 | 38 |
2018 | 47 | 10 | 57 |
2017 | 36 | 6 | 42 |
BGF's Investments by Stage
BGF has made 223 investments in Series A stage with an average round size of $8.79M, 76 investments in Series B stage with an average round size of $16.4M and 64 investments in Seed stage with an average round size of $4.04M.Stage of entry | No. of Investments |
|---|---|
Series A | 223 |
Series B | 76 |
Seed | 64 |
PE | 56 |
Unattributed | 24 |
Others | 17 |
Note: We have considered here, only first round of investments
BGF's Investments by Sector
BGF has a diverse portfolio, with companies operating in the Enterprise Applications, Business Services, Consumer, High Tech and Retail. Notably, it has invested in 227 Enterprise (B2B) companies, 179 Tech companies, 96 Software companies and at least 88 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 80 |
Business Services | 62 |
Consumer | 41 |
High Tech | 35 |
Retail | 35 |
Others | 412 |
Note: We have considered here, only first round of investments
BGF's Investments by Geography
BGF has made most investments in United Kingdom (421), followed by United States where it has made 16 investments.Country | No. of Investments |
|---|---|
United Kingdom | 421 |
United States | 16 |
Ireland | 12 |
Scotland | 6 |
Canada | 3 |
Others | 7 |
Note: We have considered here, only first round of investments
BGF's recent investments
BGF has made 4 investments in 2026 so far. Fivium and Seda are the latest among them.Here are the most recent investments by BGF:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 07, 2026 | United Kingdom | Seed | 7313 | - | |
Mar 19, 2026 | United Kingdom | Series B | 4075 | - | |
Mar 10, 2026 | United Kingdom | Series B | 6295 | ||
Jan 12, 2026 | United Kingdom | Seed | 3898 | - | |
Dec 15, 2025 | United Kingdom | Series A | 4499 | - |
Unicorns in BGF's Portfolio
BGF has 3 unicorns in its portfolio - Paddle, Touchlight and Gousto. The most recent unicorn in their portfolio is Paddle. It became a unicorn in 2022, 5 years after BGF first invested in it.Here is a list of unicorns in BGF's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | SaaS-based payment solutions for merchants | 2012 | Corby | Series D | nzutbzq | ||
56 | Provider of cell-free DNA technology platform for genetic medicine application | 2007 | Hampton | Series B | epoooaq | ||
75 | Provider of recipe boxes containing fresh ingredients and recipe instructions | 2012 | London | Series F | xkjcqpp |
IPOs and Publicly Listed companies in BGF's Portfolio
9 of BGF's portfolio companies have become public. Dianomi got listed on the London Stock Exchange (LSE), in May 2021 at marketcap of $122M and Kooth got listed on the London Stock Exchange (LSE) at marketcap of $1.83M.Here are BGF's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 24, 2021 | Feb 28, 2018 | Series B | 5943 | |
Sep 02, 2020 | Jul 04, 2023 | Post IPO | 8819 | |
Aug 07, 2017 | - | - | 2532 | |
May 12, 2015 | Apr 2016 | Post IPO | 9627 | |
Dec 16, 2013 | Sep 2014 | Post IPO | 4579 |
Acquired companies in BGF's Portfolio
135 companies from BGF's portfolio have been acquired. The most recent acquisition were PPS East in Jan 2026 by HB.Here are BGF's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 30, 2026 | Jul 17, 2015 | Series A | 8781 | |
Jan 07, 2026 | Apr 17, 2016 | PE | 2890 | |
Dec 11, 2025 | - | - | 4550 | |
Dec 08, 2025 | Aug 31, 2021 | Series B | 3592 | |
Dec 02, 2025 | Oct 16, 2014 | PE | 1927 |
Team profile of BGF
BGF has a team of 124 members including 20 Partners and 74 Principals located in United Kingdom, Ireland and 2 more locations. BGF's team sits on the board of 4 companies.Here is a list of top team members in BGF:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Bath | - | ||
Partner | London | - | ||
Partner | United Kingdom | - | ||
Partner | London | - | ||
Partner | London | - | - | |
Partner | - | - | - | |
Partner | Manchester | - | ||
Partner | United Kingdom | - | - | |
Partner | United Kingdom | - | ||
Partner | Pune | - | - | |
Partner | United Kingdom | - | - |
Co-investors of BGF
Over the past 15 years, 596 investors have co-invested in BGF's portfolio companies. This includes funds and angels.
- Invested before BGF: Parkwalk, Gov and 248 others have invested in rounds before BGF. There are 12 companies where Parkwalk has invested before BGF and 11 companies where Gov has invested before BGF.
- Top Co-investors of BGF: 180 investors entered a company along with BGF. These include investors like HSBC (7 companies).
- Invested after BGF: A total of 166 investors have invested in BGF's portfolio after their investments. Top Investors include Gov (12 companies), HSBC (10 companies) and Barclays (6 companies).
Recent News related to BGF
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BGF exits Polar Technology to Trive Capital Insider Media•Apr 21, 2026•Polar Technology Management Group, BGF, Trive Capital
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Fivium Raises Investment From BGF To Accelerate Support For Public Sector OrganisationsStartup Rise EU•Apr 07, 2026•BGF, Fivium, Hill Dickinson
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Metric Receives Majority Investment From SouthfieldFinSMEs•Mar 24, 2026•Metric Search, Southfield Capital, BGF
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BGF backs international growth plans at Seda with £15m investmentInsider Media•Mar 20, 2026•Seda, BGF
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Automotive supplier to reduce CO2 emissions with £100k boostInsider Media•Feb 04, 2026•KASAI UK, BGF
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BGF delivers “strong year of activity” across South West EnglandInsider Media•Jan 30, 2026•BGF, Eventmaster
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New chief investment officer among host of senior appointments for BGFInsider Media•Jan 16, 2026•BGF
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