IW Capital, a London-based investment firm, has announced the launch of a new growth fund aimed at investing tens of millions of pounds into the UK’s small and medium-sized enterprises (SMEs).

The initiative follows the successful completion of a management buyout, which has led to Tariq Attia being appointed as the new chief executive, alongside private equity investor Alan Armstrong as chairman.

The new fund will enable IW Capital to provide larger investments to businesses with high growth potential across various sectors, including innovative technologies, environmental initiatives, and education. Attia highlighted the firm’s commitment to supporting businesses that are addressing significant societal trends since its founding in 2011.

Describing 2023 as the “most active year to date” for the firm, Attia noted that the new funding strategy reflects IW Capital's resilience amid challenging economic conditions. The firm currently manages over £150 million in assets across diverse industries, with recent investments in Impact Recycling and healthcare provider GPDQ.

Armstrong emphasized the importance of the new approach, stating that it will ensure businesses receive the necessary support to achieve their potential. “From my own business experience, I understand how crucial it is to have an investment partner who can provide engagement, commercial insight, and valuable network connections,” he said.