Prytania's partner SME Capital and J.P. Morgan launch new funding partnership
SME Capital and J.P. Morgan are delighted to announce a new funding partnership dedicated to supporting UK SMEs.
The new collaboration will see J.P. Morgan extend a significant line of committed capital for SME cashflow lending over the next 3 years.
This forms the second phase in the development of SME Capital’s warehousing programme; the first phase being the initial commitments from current investors SCIO Capital (“SCIO”) and Prytania Asset Management (“Prytania”) in March 2021. SCIO and Prytania will continue to invest in the programme and are excited to be able to support many more UK SMEs with a range of bespoke funding packages.
Commenting on this important new relationship for the firm, Ronnie Sarkar, CEO of SME Capital, said: “At SME Capital, we take great pride in supporting owner-managed and regional businesses in taking the next step in their evolution: growth, M&A, succession planning to name but a few. We are thrilled to be able to work with such a high-calibre institution in J.P. Morgan, together with our existing investors SCIO and Prytania, to provide crucial funding to all the brilliant, local SMEs up and down the UK.
They are the ones who will collectively drive entrepreneurship, innovation, employment and growth after what has been a tough few years for everyone. I would like to thank all those involved at J.P. Morgan, our existing investors, our lawyers and advisors on the transaction and my team for their efforts in achieving this fantastic milestone.”
George Deves, Executive Director, at J.P. Morgan said:
“We are pleased to be collaborating with SME Capital on this new transaction. A vibrant and growing SME sector is vital for the economy and we are pleased to work with SME Capital on this strategic initiative to support SMEs throughout the UK.”
About SME Capital SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional channels. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest developments in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions. About SCIO Capital SCIO is a boutique London-based European private credit investor. SCIO’s funds invest in a diversified portfolio of European secured private credit assets.