The Greater London Investment Fund (“GLIF”) operates as a £100 million fund of funds, managed by Funding London. GLIF supports economic growth by providing loan and equity finance for London’s SMEs, through its investments in three sub-funds. MMC Ventures manage the equity sub-fund, and The FSE Group manage the two loan sub-funds. The GLIF and its sub-funds were launched in May 2019 by the Mayor of London.Stakeholders
GLIF provides the following
GLIF was set up with a £35m grant from the 2014-2020 European Regional Development Fund Programme (“ERDF”) and a £7m grant from the London Waste and Recycling Board (“LWARB”).
The remaining sources of finance are a £50m loan from the European Investment Bank and returns from Funding London’s previous funds.
GLIF’s objectives are underpinned by the Mayor of London's Economic Development Strategy (EDS).
GLIF focuses on the sectors outlined in the EDS - cultural and creative industries; financial and business services; life sciences; environmental industries (including circular economy); tech and digital and tourism - that are important to create inclusive and sustainable growth in London.
The sub-funds have been established as limited partnerships, in line with industry norms, including having independent advisory committees that provide strategic oversight of their delivery.