The British Business Bank has invested over £250m directly into scaleup businesses in the UK.
The funding has been invested into 33 UK technology and life science companies, with over half going to university spinouts. These companies have raised a total in excess of £2bn.
The British Business Bank recently announced it has increased the amount that it can invest directly into UK companies that are at the forefront of driving innovation and growth from £15m to £60m. The Bank has also expanded its direct investing team as it prepares to increase investment activity into UK scaleups.
“The Bank’s direct investing plays a critical role in providing scale up capital, but we need to take this further,” says Leandros Kalisperas, chief investment officer at British Business Bank.
“There are still plenty of high potential and IP rich companies that need funding to scale into globally significant companies, particularly in the eight priority sectors of the government’s modern industrial strategy.”
The Bank is currently working on the launch of the British Growth Partnership, which seeks to catalyse external institutional capital into the UK’s high potential companies.
The British Growth Partnership’s inaugural fund will invest directly into UK growth stage companies, tapping into the Bank’s network and existing pipeline. Aegon UK, NatWest Cushon and London CIV have already announced their intention to work with the partnership.
“The British Growth Partnership will give pension funds access to the Bank’s live pipeline of scale up businesses,” says Ian Connatty, managing partner at the British Growth Partnership.
“We intend to hit the ground running as soon as we are ready to launch, providing a bridge between institutional investors and the UK’s thriving venture ecosystem.”
