The equity sub-fund, ‘MMC Greater London Fund' , was launched in May 2019. Of the amount committed by GLIF, £45 million will be made available for investing in innovative companies that make a difference to London’s economy and the lives of its people. At least £14 million will be targeted at circular economy businesses. The MMC Greater London Fund’s core strategy is to invest between £50,000 and £2 million in businesses raising finance at pre-Seed stage through to Series A.
The two debt sub-funds were launched in May 2019. A total of £55 million (£27.5 million each) will be available for investing in London’s businesses from these two funds. The funds are aimed at growing SMEs with viable proposals to expand their businesses but are unable to obtain part or all of their debt funding requirement from other sources The FSE Greater London Small Fund provides loans between £100,000 and £500,000, and the Large Loan Fund provide loan between £500,000 and £1.5 million.
