Whiterock deploys 82 million euros across Northern Ireland SMEs

Belfast-based fund manager Whiterock has deployed €82 million (£70 million) into small and medium-sized enterprises across Northern Ireland, the company announced on 13 October 2026.

The capital was distributed through two vehicles: the Growth Capital Fund and the Investment Fund for Northern Ireland. Both funds are backed by the UK government's British Business Bank and supply debt and equity financing to growth-stage businesses.

The investments target companies operating in advanced manufacturing, technology, and consumer goods. Whiterock has operated as a regional fund manager in Northern Ireland for over 14 years and currently manages more than €420 million (£255 million) across five funds.

"Whiterock has been supporting local SMEs’ growth for over 14 years, and our strong, dedicated team has spotted investment opportunities across multiple sectors from advanced manufacturing to tech to consumer products," said Paul Millar, Chief Executive of Whiterock.

Millar added that local businesses value regional insights. "We are proud of the resounding success of our equity and debt funds since they launched in early 2024 and we hope to continue working as the go-to strategic partner for local companies to achieve their growth ambitions," Millar said.

Capital deployment and portfolio investments

Since launching its equity and debt funds in early 2024, Whiterock has invested €47 million (£40 million) into 15 Northern Ireland companies through its €88 million (£75 million) equity fund. A further €35 million (£30 million) has been invested via debt financing.

The fund manager's portfolio includes a €7.7 million investment in Belfast-based Drinksology Kirker Greer and a €1.8 million funding package provided to Solarfix in 2024. Other funded businesses include MANTIS and Around Noon. Its Growth Capital Fund provides minority stakes in scaling regional firms, with capacity for follow-on funding.

The allocation is part of a broader effort by the British Business Bank to increase regional finance access across the UK in 2026. According to EU-Startups, other British Business Bank commitments reported in 2026 total approximately €191 million across several UK investment managers.

"Reaching £70 million of investment in Northern Ireland businesses is an important milestone and demonstrates the impact that public and private finance can have in supporting ambitious smaller businesses to grow," said Sue Barnard, Senior Investment Manager at the British Business Bank.

Barnard said the British Business Bank aims to increase access to finance for businesses that drive jobs and economic growth in the region.

Other recent allocations by the state-owned development bank include €58 million to London-based Soho Square Capital, €46 million to FPE Capital, up to €53.6 million to Zinc Capital Management, up to €11.5 million to Ascension Ventures, and €11 million each to SFC Capital and Fuel Ventures.