Stephen Welton

Stephen Welton
CBE
CEO of the Business Growth Fund
In office
2011–2020
Personal details
BornStephen Frank Welton
(1961-02-09) 9 February 1961
Johannesburg, South Africa
EducationEsher College
Durham University (LLB)
OccupationBusiness executive and investor

Stephen Frank Welton (9 February 1961) is a British business executive and investor who has served as non-executive chair of the British Business Bank since 2023.

He was the founding chief executive of the Business Growth Fund (BGF) from 2011 to 2020, before becoming executive chair and later non-executive chair.[1][2]

Early life and education

Welton was born in Johannesburg, South Africa and attended The Ridge School. He and his family moved back to England when he was 11 years old.[3] His father was employed by the Parker Pen Company.[3]

Welton attended Esher College. He graduated with a law degree from Durham University in 1983.[4]

Career

Welton initially trained as a barrister, before becoming a loan officer at the Bank of Boston.[1][3] From 1986–90 he was senior vice-president at Security Pacific Eurofinance.[5]

He co-founded Henderson Ventures and later joined Barclays Private Equity in 1995 as managing director.[6][7] He left this role in 1999 to become chairman and CEO of TV Travel Shop.[5] He subsequently became one of the founding partners of private equity firm CCMP Capital Advisors, JP Morgan's private equity arm.[1][6][7]

Business Growth Fund

In 2011, Welton became the founding chief executive of the Business Growth Fund (BGF), a £2.5 billion investment company established by Barclays, HSBC, Lloyds Banking Group, the Royal Bank of Scotland and Standard Chartered to provide growth capital to small and medium-sized businesses in the UK.[1][8][9] In 2021, Welton joined the Build Back Better Council, a Government business council launched by Boris Johnson to address the UK’s economic recovery from the COVID-19 pandemic.[10]

By 2023, BGF had invested over £4 billion in more than 400 growth companies across the UK and Ireland. Welton became the investor's Executive Chairman in 2020 before stepping down in June 2023.[11]

British Business Bank

In October 2023, Welton was appointed non-executive chair of the British Business Bank, succeeding Lord Smith of Kelvin.[12] He had previously advised the UK government on the establishment of the bank in 2013 and served on the industry panel advising HM Treasury on its Patient Capital Review in 2017.[13]

Personal life

Welton is married, with three children.[1]

Honours

Welton was appointed Commander of the Order of the British Empire (CBE) in the 2023 Birthday Honours for services to small businesses and entrepreneurship.[14]

References

  1. 1 2 3 4 5 Evans, Peter. "BGF's Stephen Welton, the constant gardener of budding Bransons". The Times. ISSN 0140-0460. Retrieved 1 September 2021.
  2. ↑ "Stephen Welton named new chair of British Business Bank". GOV.UK. Department for Business and Trade. 4 October 2023. Retrieved 28 August 2026.
  3. 1 2 3 Lynch, Russell (15 July 2016). "Stephen Welton: The Business Growth hoping for magic with small firms". The Standard. Retrieved 1 September 2021.
  4. ↑ "Faculty of Law". Durham University Gazette. XXVII: 56. 1983. Retrieved 1 September 2021.
  5. 1 2 "J.P. Morgan Partners announces addition of Stephen Welton as new partner in Europe" (Press release). JPMorgan Chase. 3 December 2002. Retrieved 28 August 2026.
  6. 1 2 "Bloomberg profile: Stephen Welton". Bloomberg.com. Retrieved 1 September 2021.
  7. 1 2 "Stephen Welton". Speakers for Schools. Retrieved 1 September 2021.
  8. ↑ "Big hitters appointed to business bank advisory group". GOV.UK. 21 January 2013. Retrieved 28 August 2026.
  9. ↑ Smith, Oliver (7 August 2018). "How A £2.5 Billion British Startup Fund Became The Most Prolific Growth Investor In The World". Forbes. Retrieved 28 August 2026.
  10. ↑ "Prime Minister and Chancellor launch new Business Council". GOV.UK. Retrieved 1 September 2021.
  11. ↑ "Stephen Welton". BGF. Retrieved 1 September 2021.
  12. ↑ "Stephen Welton named new chair of British Business Bank". GOV.UK. Department for Business and Trade. 4 October 2023. Retrieved 28 August 2026.
  13. ↑ "British Business Bank welcomes Stephen Welton CBE as Chair". British Business Bank. 4 October 2023. Retrieved 28 August 2026.
  14. ↑ "No. 64082". The London Gazette (Supplement). 17 June 2023. p. B10.
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