Media non-profit Creative UK has unlocked a significant £35m investment pot to support the UK’s ambitions to grow its creative sector by £50bn by 2030.

Downing Street’s aim extends to creating one million extra jobs within the sector by the end of the decade, with this latest investment fund an important step in meeting the targets set out by the government and the Creative Industries Council in their recently-published Sector Vision.

Set to be delivered in partnership with Triodos Bank, the so-called ‘CGF II’ fund will be the largest single fund to be delivered by Creative UK and follows £50m-worth of investment by the body into the British creative industries over the past decade.

“Over the past decade, the UK’s creative industries have grown more than 1.5 times the rate of the wider economy, currently generating £108 billion in economic value and employing 2.3 million people,” Creative UK CEO Caroline Norbury OBE said.

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“However, this country’s talented creative businesses are experiencing a significant gap between their immense growth potential and access to the vital capital they need to succeed.”

First launched in 2019, the fund has so far invested over £17m into over 30 creative businesses located across the UK, driving the creation of more than 200 jobs and raising a further £19m.

Triodos Bank UK director of business banking Phillip Bate added: “Four years on from the launch of the first Creative Growth Finance fund, our partnership with Creative UK goes from strength to strength and continues to support companies at the forefront of innovation.

“For a bank only focused on financing projects with positive impact, we can see the social importance of these organisations to the UK. Creative UK’s expertise has been key to helping us grow our funding of this important sector.”