Last week, the South Yorkshire Pensions Authority (SYPA) announced the launch of two £20m funds for small to medium sized enterprises (SMEs) across the region to help stimulate regional growth and create high-quality, sustainable jobs.
The South Yorkshire Debt Fund will back local businesses and be managed by FW Capital while the South Yorkshire Growth Equity Fund will be managed by Foresight Group to foster growth, create jobs and drive innovation.
Each fund will deliver a £20million commitment of much needed finance and provide new sources of investment to support businesses to scale up and innovate, providing vital support for SMEs across South Yorkshire.
The initiative reflects SYPA’s ongoing commitment to invest in South Yorkshire’s future to cultivate long-term prosperity for its local communities.
Rebecca Robinson, director in the company commercial team at Wake Smith Solicitors, attended the launch and looks at how the firm can advise on facility agreements and security documents for businesses seeking to take advantage of these funds.
This article covers:
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What are the funds and who are they for?
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Why create these funds?
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How Wake Smith can help you
What are the funds and who are they for?
There are two new funds that have been announced: (a) the new South Yorkshire Debt Fund will be managed by FW Capital, one of the UK’s largest regional fund managers with a strong record of supporting businesses in Yorkshire. This fund is designed to support growing businesses across Barnsley, Sheffield, Doncaster and Rotherham with loans of up to £2million. Funding can be used for a variety of purposes, such as boosting working capital, purchasing equipment, recruitment, marketing and product development.
(b) The South Yorkshire Growth Equity Fund will be managed by Foresight Group and is dedicated to investing in ambitious, growing companies across South Yorkshire. It will provide equity investments of up to £2million, typically as part of larger funding rounds of up to £15million through co-investing alongside Foresight’s other funds.
Why create these funds?
SMEs are vital to the UK and local economies, and South Yorkshire has some impressive and resilient entrepreneurs with ambitious ideas for growth but access to finance continues to be a significant challenge for many businesses.
These funds will help companies reach their growth potential and build on founders' visions across all sectors and transaction types.
How can Wake Smith help you?
Wake Smith's Corporate Commercial Team can provide expert advice to SMEs on a full range of legal services to strategically benefit from the launch of these two new funds.
Our banking and finance team, which was recommended in the UK Legal500 2025 guide, can assist you from the outset of your application, providing clear and comprehensive legal advice which is backed by our thorough understanding of the business sectors operating in our locality.
Wake Smith has expert knowledge and extensive experience in relation to the advice and negotiation of the terms of the facility arrangements alongside any required security documentation. We provide reliable and proactive advice which is tailored to you and your business. The scope of the security being provided may include charges over the businesses’ property or assets to personal guarantees from the shareholders and as a full-service law firm we can advise on all of these aspects.
Our team can also assist with the complexities of drafting and negotiating any inter-creditor arrangements which can arise as result of this new funding, as well as considering the impact of any proposed security provisions on your current lending arrangements and mitigating any identified risk as a going concern.
At Wake Smith, fostering long-lasting client relationships is at the core of our advice. Therefore, whilst the launch of these new funds are targeted towards established SMEs, we also offer a full range of legal services for newly incorporated companies and start-up enterprises, with the intention to remain with you throughout the life cycle of your business.
Your next move?
For advice on facility agreements, inter creditor arrangements and security documentation please contact Rebecca Robinson at Wake Smith Solicitors on 0114 224 2007 or email rebecca.robinson@wake-smith.com
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