Case study
The Dementia Discovery Fund (DDF) was launched in 2015 to invest exclusively in pioneering research and drug development to tackle neurodegenerative diseases, incl. Alzheimer’s, one of the largest unmet medical needs with over 55m patients worldwide and nearly 10m new cases every year.
| Region/Nation | London |
|---|---|
| Sector | Life Sciences |
| Programme | Patient Capital Funds |
| Partner |
Utilising its network of venture partners, entrepreneurs, leading scientists and strategic partners, DDF employs a science-driven investment strategy to proactively identify and invest in breakthrough discoveries and opportunities.
Support from the Bank:
The British Business Bank has a long-standing relationship with SV Health Investors going back almost ten years and has made meaningful commitments to five of its funds.
In 2018, the British Business Bank invested £24m into the inaugural Dementia Discovery Fund (DDF-1) as part of a £250m funding round. This was followed by a further commitment in 2025 of £25m to its Dementia Discovery Fund 2 (DDF-2) which reached $269m at final close, taking the Bank’s total commitment to £49m.
Much like its predecessor, DDF-2 is a specialised venture capital fund investing in companies developing or enabling new therapeutics for dementia. Building on a decade of progress in neurodegenerative disease research enabled by Fund I, it is expanding its investment focus to include later-stage opportunities with the aim of accelerating the research and development (R&D) pipeline.
The Bank is also supporting DDF portfolio companies by directly increasing the size of funding rounds through its co-investments. In September 2025, the Bank invested £8 million into NRG Therapeutics as part of a DDF-led £50 million Series B funding round.
Outcomes and Growth
The Dementia Discovery Fund is now leading the translation of scientific discoveries at the forefront of the global dementia crisis.
Since 2015, DDF-1 has established a portfolio of 20 promising companies, over 80% of which have either attracted further investment or engaged in strategic pharmaceutical partnerships.
Across both funds, DDF has successfully created new biotech companies and currently manages >60 programmes targeting neurodegenerative diseases across the active portfolio. Managing this diverse portfolio is also providing DDF with invaluable insights into research progress.
Christian Jung, Partner, Dementia Discovery Fund:
The UK is a world leader in research into dementia, and the long-term support from the British Business Bank has allowed us to convert scientific breakthroughs into a growing portfolio of companies advancing new treatments. Together, we are creating companies that are moving ever closer to finding solutions to one of the world’s largest and most urgent medical problems.
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