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British Business Bank commits £30m to Atempo Growth II

Press release 28 May 2025

The British Business Bank has made a commitment of £30m to Atempo Growth’s second fund, Atempo Growth II. The fund has held its first close with commitments exceeding €300m, bringing Atempo Growth’s total assets under management to over €700m. 

Founded in 2021 by Luca Colciago, Jack Diamond, and Matteo Avramov Giulivi, Atempo Growth is a growth debt fund supporting high-growth tech startups from Series A through to pre-IPO. The team has extensive experience, having invested in 32 companies through its debut fund, Atempo Growth I, which was also previously backed by the British Business Bank. 

Building on the strategy of its inaugural fund, Atempo Growth will continue to provide non-dilutive finance to high-growth technology businesses across a range of sectors. 

Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, said: 

We are pleased to continue our support for Atempo Growth, having backed their inaugural venture debt fund in 2022. This new commitment to Atempo Growth’s second fund will support high-growth UK technology companies to access the finance they need to unlock rapid growth.

Tina Page, Chief Operating Officer, Atempo Growth, said: 

We’re delighted to have the continued support of British Business Bank and our cornerstone investors as we launch Atempo Growth II. Surpassing €700 million in assets under management marks a significant milestone for our platform, giving us the opportunity to further build on our platform in support of technology across the UK and wider Europe.

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Notes to editors

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support over £17.4bn 1 of finance to almost 64,000 2  smaller businesses.

As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.

The British Business Bank is also responsible for administering the government’s three Coronavirus loan schemes and its Future Fund, together responsible for delivering £80.4bn in finance to 1.67m businesses. These schemes are now closed to new applications.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at British Business Bank.

The Investment Programme is operated by British Business Investments Ltd, a wholly owned commercial subsidiary of British Business Bank plc. British Business Investments Ltd is registered in England and Wales with company number 09091930, and registered office at Steel City House, West Street, Sheffield, S1 2GQ.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, British Business Bank plc or its subsidiaries or any other party in respect of Atempo Growth or its products or services.

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