British Business Bank co-invests £250 million directly in UK scale ups

• British Business Bank hits direct co-investing milestone with quarter billion invested into UK growth companies
• British Business Bank expands direct investing team as it gears up for British Growth Partnership

The British Business Bank has announced that it has co-invested over £250 million directly into the UK’s scale up companies.

This funding has been invested into 33 UK technology and life science companies, over half of which are university spinouts. These companies have raised a total in excess of £2 billion, showing the Bank is successfully crowding in investment into the UK’s most promising scale ups.

As well as this, the British Business Bank has recently expanded its direct investing team to 13 people as the Bank gears up to increase its investment activity into UK scale ups. The Bank recently announced that it has increased the amount that it can invest directly into UK companies at the forefront of driving innovation and growth from £15m to £60m.

The Bank is also 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 British Growth Partnership^{Read footnote text 1} . 

Leandros Kalisperas, Chief Investment Officer at British Business Bank, said: 

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  All investments are subject to completing commercial negotiations and due diligence processes, and, where appropriate agreement from the trustees and from client funds.