British Business Bank makes £75m cornerstone commitment to Molten Ventures Growth Fund I
Press release
The British Business Bank has made a £75m cornerstone commitment to Molten Ventures Growth Fund I helping to increase the availability of growth-stage capital for high-growth UK technology companies at Series B and beyond.
Founded in 2006, Molten Ventures plc is a leading UK-based venture platform investing in and developing high-growth technology companies in the UK and across Europe. It has a track record of successful growth investing, with more than 40 growth-profile deals completed and over £700m invested in the past ten years. Exit highlights include Trustpilot, Wise, UiPath, Peak Games, and Revolut (partial exit).
The Bank has a long-standing relationship with Molten Ventures dating back to 2018. Since then, it has co-invested alongside Molten in several UK technology companies, including Form3, Hadean, SatVu, Thought Machine, Paragraf and IMU Biosciences.
To increase the availability and depth of scale up capital for UK companies, the Bank is supporting UK fund managers to launch larger growth stage funds. By making cornerstone commitments, the Bank helps fund managers achieve a first close, attract additional private capital and execute their investment strategy at greater scale.
To support fundraising, the Bank has also recently launched Venture Link, an online portal that gives direct sight of the Bank’s LP investments and opportunities that remain open to investment. Venture Link is designed to improve the visibility of opportunities and help institutional investors navigate UK venture capital as they develop their investment strategies and enter the market. Venture Link currently lists 15 funds that are open to further LP investment from pension funds and other institutional investors.
Molten Ventures Growth Fund is a continuation of Molten’s existing investment strategy of Series B+ investments, targeting globally ambitious, high-growth technology companies in UK and Europe with a particular focus on government’s Digital and Technology growth sector, including Space, AI, Fintech, Quantum, Deeptech and Hardware. The fund is targeting a final close of £350m.
Robert Greenwood, Senior Director, Funds at British Business Bank, said:
To create deeper pools of late-stage capital for breakthrough technology companies, we are helping UK tech investors to launch new growth funds. This commitment is the latest example of that strategy. Molten Ventures is one of the UK's leading growth investors, with a strong track record of backing fast-growing technology businesses. This fund will help the next generation of tech entrepreneurs scale faster and build global companies from the UK.
Ben Wilkinson, Chief Executive Officer of Molten Ventures, said,
Securing the British Business Bank as cornerstone investor is a strong endorsement of Molten’s strategy and of the relationship we have built over many years. It also underlines the importance of bringing more long-term institutional capital into venture and Growth, so that ambitious UK and European technology companies have the backing they need to scale. Alongside our other strategies, including Molten Secondaries, the Growth Fund will strengthen our ability to connect long-term capital with companies that are shaping the future.
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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 economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.
In 2025/26 , the Bank supported UK smaller businesses to access £9.4bn of finance, made up of £1.3bn of public funding, £4.3bn of private capital crowded in by the Bank and £3.7bn of lending the Bank guaranteed. The funding benefited 38,000 UK businesses, including around 30,000 businesses the Bank had not previously helped to fund.
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 www.british-business-bank.co.uk.
The Patient Capital Funds programme is operated by British Patient Capital Limited, a wholly owned commercial subsidiary of British Business Bank plc.
British Patient Capital Limited is registered in England and Wales with company number 11271076, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.
The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party of Molten Ventures or its products or services.
About Molten Ventures
Molten Ventures is a leading venture capital firm investing in and supporting rapidly growing technology companies across the UK and Europe. Its team of experienced investment professionals focuses on businesses with significant potential at the forefront of innovation and growth.
Listed on the London Stock Exchange (LSE: GROW), Molten Ventures plc gives public market investors access to a diversified portfolio of exciting, privately held technology businesses. Since 2016, Molten has deployed more than £1 billion of capital and realised more than £800 million in proceeds from its investments. Molten manages over £2 billion AUM across its group.
For further details, please visit: investors.moltenventures.com/investor-relations/plc