The UK Enterprise Fund 3 (UKEF 3) was launched in November 2023 in collaboration with leading growth capital investor BGF. This offered an exclusive opportunity for eligible Coutts clients to gain exposure to a diversified portfolio of commercially proven and typically profitable private businesses.

As an investor in UKEF 3, you’ll receive quarterly and annual updates for the fund, providing an overview on the portfolio, investment activity and an update on the fund’s progress and performance. Please find previous UKEF 3 quarterly and annual reports below (prepared by BGF, not Coutts). 

Please note, UK Enterprise Fund 3 is closed to new investment.





Coutts has not prepared these documents and we have not verified the information within it.

Documents are for Coutts clients only who are professional clients and have invested in the fund.

This is a high-risk investment, the value of investments and any income from them may go down as well as up.

Previous QUARTERLY reports

If you have any further questions regarding your investment in UKEF 3, please get in touch with your private banker, or our Private Markets team at


This document has been prepared by and is proprietary to BGF Group plc, its subsidiaries and related partnerships ("BGF"). BGF Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority. References herein to "this document" shall include this document and any associated documentation delivered with it.

This document is being furnished on a confidential basis to a limited number of recipients. This document is intended for the sole use of the person or firm to whom it is provided by BGF. Such information may not be copied or passed on, in whole or in part, or discussed with any person outside the intended recipients group of affiliates or professional advisors, who will ensure that each such person complies with these confidentiality obligations as if they were a party to this Agreement. By accepting receipt of this document, each recipient agrees to comply with these confidentiality restrictions. 

This document is intended for informational purposes only and does not constitute advice or an offer, invitation, solicitation or recommendation to enter into any transaction, offer or arrangement by BGF. The information contained herein should not be relied upon by any recipient for any purpose.

This document has not been audited or verified by an independent party. Information contained herein and the data underlying it have been obtained from sources believed by us to be reliable, but no assurance can be given that the information, data or any computations based thereon are accurate, complete or that it will not be subject to future change. Past performance is not indicative of future returns.